The AARP has released a paper titled “Perspectives: Options for Reforming Social Security” by Virginia Reno of The National Academy of Social Insurance and David John of the Heritage Foundation. Each co-author provides their own perspective on various options to make Social Security financially sustainable for the future.
The full paper is available here, or you can click on individual options below:
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3 comments:
Andrew,
Do you think it is reasonable to title an option "Begin Means-Testing Social Security Benefits" when benefits have been means-tested since 1983.
The number I have heard is that test reaches up to 1/3rd of retirees. It is impossible to begin what we started 30 years ago. It is doubtful that we can expand it if it already reaches the population that it is rumored to reach.
You can make the argument that subjecting half of Social Security benefits to income taxation isn't means testing, since half of the contributions aren't subject to income taxes on the way in. That said, the effect is obviously the same. But a true means test that would really impact solvency would go well beyond what we've currently got.
Andrew
A discussion or a proposal to Reform Social Security would and should include all options. What I see from the AARP is only how they can take more from current and future workers while retaining current benefits for those retired or soon to be retired.
As the decades have gone by, I have noticed a lot more young people becoming very vocal on out right eliminating Social Security. In the mid 80's if I asked a person under age 46 what they thought of SS, they were pretty much unsure. Once I gave them a short paper to read, the vast majority wanted to eliminate it.
Now I do not even have top present relavent facts, but they overwhelming would like to see SS eliminated. Many though seem still be be naive on continueing it for current beneficiaries while they phase it out.
It is only a matter of time as it was in the Ant movie, before AARP and beneficiaries realize they like the grass hoppers are totally out numbered in potential voters.
It is only a matter of time; will you be left holding onto an empty concept?
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