Social Security Crisis: Lawton Candidate's Plan to Save It Before 2032

Social Security is a conversation that hits close to home for folks in Lawton, especially military families and retirees who rely on those monthly checks. Here’s the hard truth. The trust fund is projected to run dry by 2032, and after that, benefits could drop to just 78% of what you’re owed. That’s a 22% cut for millions of Americans, including many right here in Comanche County.

Mitchell Jacob, the Democratic candidate running for Oklahoma’s 4th District House seat, says he has a fix. He wants to eliminate the cap on FICA payroll taxes, which currently stops taxing income above about $176,000 a year. Jacob argues that taxing every dollar of income would keep Social Security fully funded for another 75 years. He’s campaigning on this message by bicycle, riding across the district to meet voters. His opponent, Republican Rep. Tom Cole, supports creating a bipartisan commission to study the issue, a move Jacob calls“showboating”given how little time is left.

This race is heating up as the November election approaches. With the Social Security trust fund set to run dry in less than eight years, the next Congress will have to make some tough choices. Do you think eliminating the payroll tax cap is the right fix for Social Security, or should Congress form a commission to study the options first? Let us know in the comments.