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Social Security Solution and Subprime

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Mark Daniel

I would ask Hank Paulson to consider a program to buy out peoples mortgages if they waive their right to collect social security checks when they retire. For once in history Social Security Benefits will have a price tag of its true cost to fix (appx. $30 trillion). This could easily be paid for by current SS taxes raised to 12% from appx 6% over 30yrs. I think most people would be willing to not have to worry about their mortgage as opposed to their retirement checks. This could free up as much as $1000 per household per month over the 30 years if not more. The only catch would be that the home may not be FLIPPED or sold to pocket the money, but may be sold to buy another home and the difference placed in a savings account owned by the taxpayer.

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