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To: kabar
IT has to start with SS and the age requirements.They have to start at 70 with big rewards for anyone who puts it off even a month at a time.

With 10k of us retiring every day that's where the big money is going to be spent.

81 posted on 04/08/2012 10:27:18 AM PDT by rodguy911 (FreeRepublic:Land of the Free because of the Brave--Sarah Palin 2012)
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To: rodguy911
SS is fairly easy to solve. A number of things could be done including raising the age for full benefits, adjusting the calculation of COLAs slightly, or a small adjustment in the formula on the calculation of benefits.

I do have some reserverations on raising the age to 70. That may work for white collar workers, but people who have been working in manual labor or other physically demanding jobs would be hurt. You can raise the retirement age so high that no one will collect benefits.

Everthing I have read about the problems with SS make it clear that it is fairly easy to solve. I would like to see us privatize the program and keep a small defined benefit program for survivor and disability benefits. Personal accounts are a win-win solution for everyone. They would have to be phased in and the transition costs budgeted for on a one time basis. SS is a Ponzi scheme.

83 posted on 04/08/2012 10:36:51 AM PDT by kabar
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