Now that the recommendations of George W. Bush's Social Security task force have been quietly shelved, it's time to recall that there are simple and equitable solutions available to deal with Social Security's potential future problems resulting from the retirement of millions of baby boomers.

Five years ago, four former senators--Alan Simpson of Wyoming, John Danforth of Missouri, David Pryor of Arkansas and I (two Democrats and two Republicans)--met on the campus of Southern Illinois University with the deputy chief actuary for Social Security. After looking at many possibilities, we recommended two changes:

First, all income should be taxed for payments into the Social Security Retirement Trust Fund. Today income up to only $84,900 is taxed. While the benefit payments are mildly progressive, the taxes are regressive. Most Americans pay more into Social Security than to the IRS. Covering all income would not only help Social Security, it would reduce the growing gap between those more fortunate and those less fortunate. If you earn $1 million a year, your increased tax would be less than $57,000. You could afford that. And you would pay it knowing that you are helping insure a more secure old age for your children and grandchildren.

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