Noteboom The Law Firm

Presidential candidates propose changes to the Social Security system...

With only months to go until the general election and with the economy in turmoil, both candidates are pushing hard to show that their plans are better suited to fix the economy.  Though the economy is a real concern, those who are disabled and receive Medicaid, Medicare or Social Security disability benefits want to be reassured that they will continue to get the help they need.

Obama plans to lift the cap on the amount at which Social Security taxes are paid.  Currently, only the first $102,000 of income is taxed for Social Security.  Any amount above this is untaxed.  Obama would do away with the cap.  By doing this, he would be placing a Social Security and Medicare tax on 100 percent of salaries. 

McCain has said he would consider lifting the tax cap.  However, his main reform would be to make personal savings accounts for retirement available as up to 20 percent of the current Social Security program.

I am skeptical that either candidate will bring real change to the social security system.  Waits for help are long and most applicants wait years to receive the Social Security disability benefits they need.  Neither candidate is proposing the wide sweeping changes needed to expedite the dispersal of benefits to disabled Americans.