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[quote=Anonymous][quote=Anonymous]SS, in its current form, is projected to run dry by 2034. (And while some people are talking about increasing benefits, it's obvious we need to cut.) From what I understand, a couple of minor "tweaks" can save the program. What would you be willing to sacrifice? I would vote for three changes:

1) Gradually increase the full retirement age to 68. ?There should be no change for people within 10 years of retirement, but for others, we could add a month every year until we get to 68. When SS was introduced, people barely lived 5 years past retirement age (on average), and now we have people claiming for 20 to 30 years.

2) Increase the cap on the amount people pay the SS tax.

3) Lower the benefits for people in the uppermost brackets - in retirement - by about 25%. My parents have a retirement income of about $150k - no pensions, just responsible lifelong savings and investments - and they tell me they wouldn't miss a SS cut of a few hundred dollars a month.

Opinions?

[/quote]

I like 1 and 2, as long as we can figure out how to shield all the line workers and waitresses so they don't have to do physical labor until they are 72. Maybe protecting low earners from the benefit cuts, which would catch a lot of labor jobs and also address the issue of low earners having shorter lives, which someone above mentioned. (I work on retirement security although not Social Security specifically, and I have a feeling I know some of you, because you seem very informed!)

The third one sounds good, but it doesn't actually raise much money. Not enough to make a serious dent in the financing issue. So I don't think it's worth the political fallout from reducing returns to the highest earners, making Social Security a welfare program as some of you have said. Anyway, we know that programs for the poor always get cut and chipped away, so I wouldn't want to go that route.[/quote]

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