Retirement

Calls for Social Security Expansion Grow Louder in Washington – The New York Times

Here is a good article covering some of the ideas being proposed to expand Social Security, some very targeted, others more broad, all requiring higher taxes and or cuts in others areas such as the COLA calculation. One idea would change the surviving spouses benefit from the higher of survivors own benefit or 100% of the deceased spouses benefit to 100% of their own benefit plus 75% of the deceased spouses benefit.

IMG_0305Clearly policymakers have concluded that Americans are no longer motivated or capable of planning for their retirement years so forced savings in the form of taxes and higher government benefits are necessary… and in most cases they are probably right Β We are on the road to mediocrity and there are no U Turns.

Anticipation is sometimes much greater than reality. Any change in (expanded) benefits will likely be gradual, modest in terms of total income and with offsets … and costly given we first must assure the long-term solvency as the program stands today.

After years of talk about reining in Social Security, the discussion has turned to making it more generous instead.

Source: Calls for Social Security Expansion Grow Louder in Washington – The New York Times

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