For over two years I've talked about the urgent need to shore up Social Security.
It's a program that will run short of funds needed to pay full benefits as early as 2033.
I've also been waiting for a leader who may be willing and able to take on this challenge.
Now that President Trump has once again assumed office and hit the ground running, I'm confident that we have the right leader to fix Social Security so the program can continue to pay full benefits.
In October of last year, I had an opportunity to briefly meet President Trump prior to a rally held in Reading, Pennsylvania.
Our now nation's 47th president noticed I was wearing a "Save Social Security" button.
He asked me about it.
During our brief conversation, I was able to talk about Social Security and ask if he would be open to working on a solution. He replied, "We’ll see."
I took the fact that he did not say no as a positive sign. Since then, I've waiting for him to take the oath of office so I could follow-up on our conversation.
Shortly after his inauguration, I sent President Trump a letter reminding him of our conversation and respectfully asking that he appoint a commission to make recommendations on options to ensure that Social Security can pay full benefits for many years into the future.
Although this may not sound like a big ask, if you talk to any member of Congress, they will tell you that any move to shore up the Social Security Trust Funds will require some tough choices that politicians typically like to avoid.
This is precisely why President Trump is the man to lead this effort.
He's proven he's willing to stand tall and do the right thing in the face of criticism.
Why, you may ask, would anyone be against fixing Social Security so it's able to fully pay benefits to current and future retirees?
The simple answer is that shoring up the program will either involve benefit cuts for some higher income retirees, an increase in revenue to the program that will have to come from somewhere, or a combination of the two.
It doesn't take a rocket scientist to figure out that no one wants to pay more taxes or give up a benefit to which they are currently entitled.
Such a situation represents a potential political minefield.
The good news is that the president can appoint a bipartisan commission, one similar to what President Ronald Reagan did, that includes a mixture of members of Congress, businesspeople, and experts who understand Social Security.
This committee should be tasked with coming up with recommendations.
Although this will not make the choices any easier, it will largely take politics out of the discussion. It's important to note that these discussions will become more difficult the closer we get to the date of the trust funds running out.
The reason for this is the options for stabilizing the program become more limited as we get to that date.
My friend Dave Walker, former comptroller general of the United States and a former Social Security trustee, wrote a book published in 2024 outlining a number of possible solutions to our nation’s fiscal problems, including Social Security.
The following are among some of the possible solutions he outlined for Social Security:
Raise the cap on taxable wages for Social Security. In 2025, the wage cap is $176,100, meaning that those who make more than this do not pay Social Security taxes on income over this amount. If this cap is raised, it will bring in more revenue to the program.
Modify the Social Security benefit formula so that wealthy recipients receive a lower proportional benefit than those in the lower and lower-middle income brackets.
He does not propose means testing because Social Security is meant to be a universal program; however, he believes we should consider adjusting the formula so those who most need it benefit the most.
Raise the retirement age for younger workers to account for the increase in life expectancy to be phased in at some point later.
There are other options; however, at this stage listing potential solutions is nothing more than an exercise to promote discussion.
The real rubber will meet the road when a commission is appointed to develop a list of proposed solutions.
One thing I know for certain is that the American people are aware of the challenges facing Social Security, and they are hungry for a solution.
As I've traveled the country over the last two years, I've had the opportunity to address tens of thousands of people.
As a sponsor of the Tucker Carlson tour last year, I had the opportunity to speak to massive crowds prior to the opening of each show.
At the end of each one, I'd always make my way to the main lobby to talk to people as they exited. This resulted in thousands of individual conversations where the future of Social Security was often the topic.
These conversations convinced me that millions of Americans want to see Social Security fixed so that recipients would be able to receive full benefits well beyond 2033.
If you are among those who feel this way, please contact your representatives and the White House to make your voice heard.
Joe from Texas is a family man with children, grandchildren, and great grandchildren who has had tremendous success and lived the American Dream. His beliefs are both straightforward and deeply held. He believes in God, his family, and the United States of America. For more information, please visit www.JoeFromTexas.com. Read Joe Penland's Reports — More Here.
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