Marianne Williamson on Social Security Author & Democratic Presidential Challenger

Raise cap on income & we can avoid privatization

Social Security has worked well for generations to reduce poverty among seniors and the disabled. It is under attack today by Wall Street banks and related financial "service" entities who want to privatize it for no other reason than to tap into another new and huge source of income and bonuses.

To that end, opponents of Social Security have claimed over the last few years that it is running out of money soon. It is true that there could be problems with Social Security funding down the line, but they are quite easily solved by making modest changes, such as raising the cap on income subject to Social Security payroll tax. That simple modification can keep the system solvent indefinitely, without reducing benefits.