Word: socialism
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Dates: during 2010-2019
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...rare show of bipartisanship, the need for fundamental reform has united disparate factions of academia. In a 2005 paper entitled “Nonpartisan Social Security Reform Plan,” a trio of economists—including a former Bush economic advisor and a senior official in the Obama administration (Kennedy School Professor Jeff Liebman)—propose a plan to ensure the solvency of Social Security by increasing the retirement age, increasing the payroll tax cap, and, most importantly, offering personal retirement accounts that would allow workers to contribute into what is essentially a government-sponsored Individual...
...common objection to the addition of personal retirement accounts to Social Security is that allowing Americans to invest and earn interest on part of their Social Security payments might have left many of the elderly bankrupt after the financial meltdown of 2008. However, despite the desire of some to strike fear into the hearts of retirees, a worker retiring today who had been allowed to begin investing his Social Security premiums when starting work 40 years ago would have accrued more money by now than is promised by Social Security...
...plan put forth by Liebman and his colleagues fixes the Social Security solvency problem without requiring draconian tax hikes or damaging benefit cuts. Moreover, it’s not just an academic proposal: public advocates include a number of Congressional Republicans, most notably and recently Paul Ryan...
...hasn’t this bipartisan, common sense reform been passed into law? Because Democrats in Congress refuse to acknowledge a problem exists and insist on preserving the “sanctity” of the Social Security system, which is code for wanting the problem to be dealt with by tax increases alone. Harry Reid (D-Nev.) called the issue a crisis “manufactured” by the Bush administration and said Social Security will be safe for “50 years,” ignoring the fact that the system will pay out more this...
Chosen to fill the position colloquially known as “fun czar,” Castro Samayoa will be charged with supporting logistics and student groups focused on organizing social events such as the College Events Board, the First-Year Social Committee, and House Committees...