Social Security can be reformed to secure Americans’ retirement savings, said Paul Volcker, a top adviser to President Barack Obama.“Social Security is the bedrock of any retirement policy in this country,” said Volcker, chairman of the president’s Economic Recovery Advisory Board, at a retirement forum in New York yesterday. “There’s plenty of room and plenty of need for retirement programs on top of that.” ...Reforming Social Security is “doable,” he said, in part by “jacking up the retirement age” and changing the benefit calculation so that it won’t rise as fast for higher-income Americans as it does under existing law.
Feb 19, 2010
Advisor To President Calls For Raising Retirement Age And Reducing Benefits
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6 comments:
Wow, the two options that have been on the table all along. Genius!
Reforming Social Security is “doable,” he said
Reducing federal salaries seem doable too.
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Frankly, the hired drone comments are really ruining this blog for me.
Reducing federal salaries would be "doable," but not optimal.
Federal workers' salaries are a steady source of OASDI taxes, and the agencies also pay it.
It'd be better if we could get more people working, and paying into the pot, throughout a longer part of their lifetime.
"Federal workers' salaries are a steady source of OASDI taxes, and the agencies also pay it."
uh...that makes the other commentors point.
Do you know where the money to pay federal workers' salaries and the agency funds that constitute the "employer" contributions come from?
Taxes!
You're essentially saying, it's ok that the government generates enough tax revenue (mostly through more borrowing these days) to pay high federal salaries because that enables the governmet to collect more taxes... WHAT!?! How does that make sense?
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