Counter-perspective of Social Security - Slate.cpm
It would be hard to find anyone in Washington, D.C. or, for that matter, among any of the 70 million Americans who receive benefits, who would argue that Social Security is a program which has outlived it’s time and purpose. Fact is, about 90% of beneficiaries say that Social Security represents an important part of their retirement income. And all of those beneficiaries vote, which means finding a politician who favors eliminating the Social Security program, or even changing it’s purpose, would be an exercise in futility. Social Security is known as the “third rail of politics” for a reason. No one wants to talk about a drastic remake of the program, for fear of losing support of constituents. No one, that is, except Eric Boehm, a journalist at Reason Magazine who, in this controversial interview with Slate Magazine’s Celeste Headlee, opines that Social Security no longer makes sense because it has lost it’s original purpose. When enacted in 1935, Social Security was an anti-poverty program, whereas now – according to Boehm – it is largely a program which provides extra money to many who do not need it. A controversial opinion, for sure, but one which is nevertheless an interesting read. Click here to read the Slate.com article which opines that “Social Security Doesn’t Make Sense Anymore.”
For clarity, the referenced article does not represent the opinion of AMAC or the AMAC Foundation, which believe Social Security must be preserved and modernized. This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age. AMAC Action, AMAC’s advocacy arm, supports raising the thresholds at which benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age. AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade.