Solutions for Social Security
■hile Social Security
might not seem like
an issue that affects
the average student,
it does. Social Security affects
everyone. Our loved ones, par
ents, grandparents, children and
our own futures. It is an issue that
will continue to affect all Ameri
cans well into the future. Plain
and simply, Social Security
should be there to guarantee full
benefits for future generations,
just as it has in the past.
I recently attended a national
training session sponsored by the
U.S. Student Association, the na
tion’s oldest and largest student
organization, and the 2030 Cen
ter, a public policy institute for
young adults. Here, more than 60
young leaders and activists from
across the country came together
to develop national strategy for
young people to muse on Social
Security.
In order to understand the de
bate around Social Security, we
first need to look at the basics of
the program. Social Security is a
universal social insurance pro
gram that protects workers and
their families against the loss of
earnings that occurs when a
worker retires, dies or becomes
disabled. Started in 1937, the sys
tem now provides benefit pay
ments to 44 million Americans
per month and collects taxes from
150 million workers.
Social Security is funded
through payroll taxes. It’s a “pay
as-you-go” system because to
day’s contributions are paying for
today’s recipients.
This system provides benefits
that are lifelong, guaranteed and
protected against inflation. We’re
all involved in the system — hav
ing grandparents or parents who
are recipients, paying into the sys
tem or receiving benefits our
selves.
Social Security is a very impor
tant source of retirement income,
and it is also the most effective
anti-poverty program in our histo
While Social Security should
guarantee full benefits for future
generations, it faces a financial
shortfall over the long term — and
most young people don’t think it
will be there when they need it.
Commentary
C.J.
_Gabbe
Politicians who won’t commit to
protecting full benefits for future
generations are jeopardizing the
financial security of all Ameri
cans. Politicians who want to pri
vatize Social Security will ulti
mately destroy this guarantee by
diverting money it needs to pay
full benefits.
While some people believe that
Social Security is on the verge of
bankruptcy, the current system is
solvent until at least 2034, accord
ing to current projections. At this
point, the system would only be
able to pay about 75 percent of
full benefits. There are several
ways that we can extend the life
of Social Security and guarantee
full benefits well into the future.
Social Security has never
missed a paycheck, and it never
has to — if Congress will act now.
Full benefits can be guaranteed
for all Americans if Congress will
take steps to extend the life of the
Trust Fund by making payroll
taxes fair and using the budget
surplus to protect Social Security.
Currently, workers are not taxed
on earnings more than $72,600.
That means that a worker making
$72,600 pays the exact same So
cial Security taxes as one making
$250,000. Not only is this unfair,
but raising the cap would add
years of solvency to the Social Se
curity Trust Fund. We can also
make sure Congress prioritizes
the budget surplus to protect So
cial Security. Social Security
should be protected now because
young people deserve to know
that Social Security will be there
when they need it.
Privatization has been intro
duced as a possible way of solv
ing the perceived Social Security
crisis. However the proposals that
would create individual accounts
for workers cause more problems
than they would solve.
This would require young
workers to invest most or all of
their Social Security contribu
tions in the stock market and oth
er investments. Not only would
this destroy the current system
that guarantees benefits to work
ers, but it would also be risky. In
addition, this gives people from
more privileged backgrounds an
advantage because they have had
more experience with invest
ments and money management
than the typical working class or
lower-income American. Some
Americans will benefit greatly
from privatization, but most oth
ers will be left in the dust.
Recent privatization proposals
would also raise the retirement
ages for Americans well beyond
70, cut disability benefits, in
creased payroll taxes and increase
the federal deficit. This is unac
ceptable. Social Security was nev
er created as the only program for
those who retire, become disabled
or lose a loved one. It was de
signed to be a supplement to re
tirement plans and private insur
ance, and a safety net for those in
need.
Studies show that young peo
ple are not apathetic about the So
cial Security system. A poll con
ducted in May by the Peter Hart
Research Associates revealed that
among 18- to 34-year-olds,
strengthening and protecting So
cial Security was a key priority.
Eighty-six percent of those polled
said Congress should not cut ben
efits or raise the retirement age for
the purpose of funding individual
investment accounts, while an
additional seventy-three percent
said that Social Security “can
work for young people when they
retire if Congress will strengthen
the system’s finances.”
We’re all involved in the sys
tem, and we can all be involved in
the effort to strengthen Social Se
curity. Students on this campus
and students around the country
are getting ready to be involved in
the effort. If you’re interested in
finding out more information or
ways you can help the national ef
fort, please contact me
(cgabbe@gladstone.
uoregon.edu) or the 2030 Center
(www.2030.org). It’s our future —
and it’s up to us to make a differ
ence.
C.J. Gabbe is the regional director for the
U.S. Student Association. His views do
not necessarily represent those of the
Emerald.
PETER JENNINGS
SMS IT’S OKM
TO COME OUT TO
WATCH THE
rose bowl..
DfHVORATeP1
VflVEETA
CANNED
CATFISH
going overseas? catch the Oregon daily emerald
on the world wide web: www.dailyemerald.com
0007307
eoW« tieiTioSay*
the BlZ U*»"*and sonw 800(1 e:
She’ll give 7»u a 'wr
Dinner; 5:30-7:00
Performance: 7-9:00
Place: EMU Ballroom
Ticket Price: $9
MU T»cM : Office or at the <
lese Student Organ nation
br e-mail j50@glad5tone.ui
Tickets avaiiabl
Presented by UO
Questions? Call 546-*
Wfi$$$$jit
1881111
One block from campus
{above Rainbow Optics)
68 E. 13th • (541) 345-1651
The QDG Classified section... much more than a place for the crossword
Smith Famih
un
Textbooks!
Bring your textbook
information to
Smith Family Bookstore
• Author
• Title
• Edition
Well help you find
used copies that
will save you $$$
Sell us those texts,
paperbacks & magazines
vou no longer use.
Sliflilp
^