I've never heard of anyone who thinks that Social Security is or was at any time a gold-plated retirement plan. I'm pretty sure no one is going to be living in the lap of luxury based solely on SS payments.
Social Security doesn't require ridiculous tax increases to pay for it. Retirement age is already gradually increasing in the program (that's built in), it doesn't need to be drastically changed. As for why SS shouldn't be suddenly changed from 66 to, say, 70, there are a couple of good reasons. Krugman provides one, namely that average life expectancy is increasing but it is not increasing uniformly for all groups. There is another good argument, however, which is that older workers have one of the highest unemployment rates. Companies often lay off the most expensive workers (ie those with the most seniority) to reduce costs. Those unemployed workers often have a much more difficult time finding a new job than workers in their 30s and 40s. By raising the age at which people can start claiming Social Security benefits you are increasing pressure on a group with some of the most difficulties finding jobs. That isn't a good combination. Cheers, Judah On Mon, Aug 16, 2010 at 7:39 PM, Robert Munn <[email protected]> wrote: > > My basic issue with Social Security is that it was not intended as > gold-plated retirement plan. If we just go back to providing benefits > to people starting at average life expectancy age, the program will > stay solvent forever and will not require ridiculous tax increases to > pay for. > > On Mon, Aug 16, 2010 at 5:33 PM, Judah McAuley <[email protected]> wrote: >> >> An excellent, succinct, analysis by Krugman on the problems and lack >> there of with the Social Security program. >> >> http://www.nytimes.com/2010/08/16/opinion/16krugman.html?_r=2&src=twt&twt=NytimesKrugman >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:325190 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
