近距离内射合集

When Social Security first paid benefits in 1940, you had to reach age 65 to receive any payments.

This was an age that helped create a solvent system. In 1940, the average life expectancy for a man was 61 years and for a woman 66 years.

The system is now at risk of running out of funds to continue to pay current benefits. It is possible that benefits could be cut by 22% to maintain solvency.

In 1983, we faced a similar problem. Congress and the president stepped up to the plate on a bipartisan basis to keep the system afloat.

President Reagan, a Republican, and House Speaker Tip O鈥橬eil, a Democrat, brokered a rescue plan.

The 1983 legislation gradually increased retirement ages and, for the first time, subjected certain benefits to tax.

House Democrats voted 163-54 for this legislation and Senate Democrats 26-6. Republicans favored the bill 80-48 in the House and 32-8 in the Senate.

Many members chose not to vote. They were no doubt afraid of the consequences of a vote in favor of the bill.

But in those days, there were many instances of painful legislation passing on a bipartisan basis to ensure that one political party did not receive the blame.

Federal Reserve Chair Alan Greenspan, who recently died at age 100, was also involved in crafting the bailout.

Now, Sens. Bernie Moreno, a Republican, and Elizabeth Warren, a Democrat, have proposed a bipartisan solution to our current problem.

The senators鈥� bill would 鈥渟crap the cap,鈥� meaning that all wages would be subject to the OASDI tax, which is 6.2% paid by both employers and employees.

This bill would, it is estimated, keep Social Security solvent through 2090 without the need to reduce benefits.

I am convinced that there will be no 鈥渇ix鈥� to the Social Security problem if the weight has to be carried by one political party.

Scrapping the cap will be politically unpopular for those with wages above the current $184,500 OASDI limit.

The political payoff to be enjoyed when those whose benefits would otherwise be cut would come in future years.

So, there appear to be a few obvious problems with this proposed fix. First, recent tax bills have passed with the sole support of the party in power.

Bipartisanship has become an evil word. Can it be resurrected to allow both parties to hide behind each other when the pitchforks start flinging?

Second, many members of Congress might wonder why they should vote for unpopular tax increases in 2026 when the return is delayed until 2032.

The normal acts of Congress would be to delay, delay, delay until the bomb is about to explode. We can relax for six years.

Social Security was intended to be one leg of a three-legged retirement system. A major issue now is a decision about the type of country we want to be heading forward.

Social Security was intended to provide a base income to ensure that a federal safety net protected the broad social welfare of its citizens.

I will confess a strong preference for such a safety net. For me, like many of you, it is personal.

My grandmother helped to raise me and my sister. She immigrated from the Netherlands and had an eighth-grade education.

Her husband, my grandfather, immigrated from the Free Republic of Ireland and had a sixth-grade education.

My grandfather died of lung cancer before reaching age 65. My grandmother lived until age 96.

I never knew a harder-working person than my grandmother. She scraped by financially. Every grocery trip was preceded by two hours of coupon clipping.

She survived because of her Social Security checks. Will we continue to be the type of country that protects the dignity of people like her?

Will you still need me, will you still feed me, when I鈥檓 64? Paul McCartney wrote that when he was 14. To him, 64 must have seemed ancient.

The now 84-year-old McCartney doesn鈥檛 need a social safety net. But others do. Is there bipartisan support for an act to save those who do?

There are proposals other than to scrap the cap. But now is the time to act. Even if each party must hide behind the other.

Jim Hamill is the director of tax practice at Reynolds, Hix & Co. in Albuquerque. He can be reached at jimhamill@rhcocpa.com.