August 2

"The Prescription" - Dr. Fisher's Solution
Tough Choices To Secure A Covenant

Social Security is a pay as you go system, i.e. the money taken in is paid out and not saved for its eligible recipients as many believe. That must stop. Only those who have paid into the Social Security program should be eligible to receive its benefits.

The raid of the Social Security Trust Fund must end. Currently all monies from this program are put into the government's general fund which is used to finance social programs, the war efforts and every conceivable whimsy or piece of pork that politicians can imagine. The concept of "the Lock Box" bantered about in the 2000 presidential elections for the Social Security fund is realistic if contributions are tied to their contributors and are the contributor's retirement funds which also have inheritance rights.

Over the next ten years, 10% of Social Security taxes yearly should be set aside exclusively for contributors until 100% of payroll taxation for this purpose is secured for such. This would force our nation to balance its budget and live within its means.

Social Security cards are a passport to untold access in this society. As such, rampant fraud in their use is being undertaken by those whose modus operandi is trafficking in illegal immigrant labor, criminal activities, identity theft, etc. State drivers licenses, college ID's, insurance cards and institutions must stop the routine printing of these numbers or requirement of their transmission over the internet as identification to limit misuse of this information. A tamper proof social security card and associated verification process should be a number one government priority.

The retirement age should not be raised as a fix for the system. The current retirement age of 67 is the same as that for the average life expectancy of black males. This means that black men are paying into a system from which most will never collect. The existing system is also unfair to those who die too young. If social security funds were tied to individuals, immediate families (spouses and children) would be eligible to collect any unappreciated funds as part of that person's estate.

All taxation should be removed on Social Security retirement funds since tax liability was the basis of the assessment of monies paid into the system. Social Security taxation on retired people based on present income is double taxation. This strikes at an incentive people have for future planning as well as seeking their fortune.

These are solid choices for Social Security. A hard part of the equation remains in figuring out how to handle disability issues and eligibility benefits paid to non-contributing family members such as educational stipends for children of recipients under 18 or non- working spouses. These points deserve a national discourse which is compassionate and realistic. The Social Security System must be financially solvent if those who have paid their fair share are to receive future benefits.