Solution to Social Security

Karla Pelayo

Boost future contributions

As of right now there is no need for taxes to be increased, simply because social security is not out of yet. Although they fear that because there are so many in retirement that eventually we will run out of money. To eliminate this problem we could slowly increase the taxes up by 0.05% per year for twenty years. If we started in 2022 with our taxes at 7.2% and ended in 8.2% by 2052, we will have completely eliminated social security shortage by 68%.