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Reply to "I am sick and tired of the baby boomers."
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[quote=Anonymous][quote=Anonymous][quote] Adjustments need to be made so that the system can help the most who actually need the help in the future. That's why I support means testing and raising the age when people start to receive benefits. The rich do not need this income. My friend's wealthy father, a pre-boomer, actually looked into sending the checks back once he started receiving them, but then found out he'd be taxed on the income even if he refused it, and gave up.[/quote] Anyone who is sane supports means testing and raising the SS retirement age. If you want to retire early, great - just save up. And if you were fortunate hand have significant retirement assets, don't expect the federal government to kick in an extra $20,000 per year. How is this remotely controversial? [/quote]Actually I think means testing is a mistake and this is why. Once you start means testing benefits, that is - they are no longer universal - then the public gets weary of them and they get reduced even for the people who really need them. That's why in the US Social Security has so many supporters but TANF is always under attack while universal benefits to parents regardless of income in European nations has widespread political support. I'm not afraid of sacrifice. As an upper-middle class professional who has prepared adequately for retirement I know that I could handle a cut in benefits. But my brother, who struggled through health problems, and lives paycheck to paycheck even though he works hard as a nurse, would be hurt by it. But what worries me on a broader level is that if people like me get reduced benefits, those benefits will lose political support. So yeah people are self-interested and they want what they think "is coming to them." And once it isn't"coming to them" they begrudge those benefits to others. I think our society needs these benefits so let's raise the retirement age but I'm skeptical about whether means-testing is a good idea at this point in time. [/quote]
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