December 15, 2004

TOM MAGUIRE has some sensible things to say about Social Security reform. Quotable:
My two cents on reform - raise the minimum benefit a bit, reduce the maximum benefit a lot, pretty much scrap the connection between what people pay and what they get back, and promote Social Security as an income program intended to keep the elderly out of poverty, not to preserve their pre-retirement lifestyle. Higher earners will simply have to save more to live better .. As to converting Social Security towards an elderly welfare program, I don't have a good sense of whether folks are totally wedded to the fantasy that they have "earned" their benefit.
Posted by Greg Ransom | TrackBack