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More on Fixing Social Security’s Solvency Problem
In a post on www.Madison.com, The Motley Fool’s Sean Williams offers another recap of Social Security’s oft-reported long-term solvency problem. Along with his synopsis, Williams hearkens back to a similar–albeit not as dire–situation in the 1980s, and illustrates how a bi-partisan effort worked to resolve the immediate problem. While citing obvious approaches advocated by Democrats (tax increases) and Republicans (deferral of the full retirement age) and the probability that either would lead to a lack of compromise, Williams advocates a “middle ground” compromise (some tax increase, some retirement age deferral). Read his post here…
And while we’re on this subject, take note that the Association of Mature American Citizens (AMAC) has taken an active stance on Social Security’s solvency issue, and has crafted a solution designed to resolve the dilemma for generations to come. AMAC’s solution does not call for a tax increase and advocates a slight increase in full retirement age, while incorporating a number of “tweaks” that would balance the scales while not disrupting benefits. Learn more about AMAC’s recommended solution here…