William Fisk Urges Social Security Redesign Over $27 Trillion Shortfall

1 articles · Updated · Bennington Banner · Jun 22

William Fisk used a June 22 Bennington Banner letter to call for a Social Security redesign, arguing the system must better protect working-class Americans.
A projected $27 trillion funding deficiency over 75 years drove his case, as he attacked a Washington Post editorial criticizing Sen. Bernie Sanders' plan to scrap the $184,500 cap on earnings subject to Social Security tax.
Fisk said higher taxes on top earners need not translate into higher benefits if Congress rewrites benefit rules, and he suggested taxing excess benefits more heavily.
He also proposed broadening taxable income to capture tax-avoidance strategies such as borrowing against appreciated assets, framing the changes as a near-term fix for Social Security financing.