The race to revitalize Social Security is on.

It’s no secret that the program is on somewhat of a shaky foundation. Optimism about its future is also on similar standing. It’s clear changes are needed, but what’s the right way to go?

As pointed out by the Motley Fool’s Trevor Jennewine, a pair of updates could help the program in a big way. The first is a new way of measuring inflation for calculating cost-of-living adjustments (COLAs). The other is a raise on the income limit, to provide more funding for Social Security’s future.

These are great points. We’ve previously covered how COLAs are calculated, and discussed whether an update was needed. We’ve also touched on the idea that wealthy people should pay more in taxes to support Social Security.

What are your thoughts on how to fix Social Security? Do you agree with these ideas? Or is there another way? Don’t forget you can sign here to support fair yearly COLAs, then follow us on Facebook and Twitter for more.