Ugh. No. We can reform Social Security without elderly folk eating cat food. Published by Jane the Actuary View all posts by Jane the Actuary
7 thoughts on “Forbes post, “No, ‘Social Security Reform’ Does Not Mean Deprivation And Suffering””
yes, I understand you want to change SS…I disagree with your plan…most people like SS the way it is…the only changes needed are: 1) eliminate the cap on SS taxes, and 2) adjust the formula that triggers income tax on SS benefits for inflation (that has not changed in decades, and the dollar numbers should now be at least double what they are)…oh, also pass the Social Security Act 2100 and sign it into law…
You may have good ideas, you may have the right ideas, but the reality is most Americans see Social Security as their retirement lifeline and nearly all Americans have no idea how it works and are eager to believe all the misleading and incorrect information about it.
That means any effort to make substantial changes to the basic structure is virtually impossible, desirable or not.
The trick will be to convince Americans to accept a better way to supplement SS in a way that will create a guaranteed income and not totally rely on individual actions.
Corporations and banks in particular, enjoy the benefits of “citizenship,” but want no part of their moral responsibilities.
Any reorganizing of SS to include private accounts will shower banks in new fee-bssed revenue streams. Banks collect rent from the economy.
Now that money is speech, banks’ lobbyist won’t let this opportunity pass. Step back and see the unmitigated greed of corporate America resulting in income inequality before opening this Pandora’s box.
As. public sector employee for 20+ years I was shocked when my husband died of cancer. I continued to work and got his full Social Security benefits. When I finally retired at 70, almost 71, I had to choose my pension (50%) and lose almost ALL of his benefits.That makes NO sense! Had I not worked, I would be better off financially!
You sound rich. Rich people should not get to tell workers that we get less at your whim. Working men die YOUNGER now. We have destroyed our bodies doing these jobs. Many never get to see a soc sec check. It is offensive to hear your decrease ideas as you are on the outside looking in. Give me all of the money I put in for 43 years then with interest, or stay quiet with your ideas concerning MY money.