Op-ed: Lies caused the Social Security crisis - AMAC & MarketWatch

“Equities for me, but not for thee” is the best quote from this op-ed by Brent Arends. He pens a sort of “what if” Social Security funds had been invested in higher yielding equities over low performing Treasuries since that was first recommended by the Greenspan Commission in 1983. Indeed, much of the current crisis where politicians argue over higher taxes on workers and/or benefit cuts to retirees might have been avoided. Arends takes readers through a new paper from Boston College’s Center for Retirement Studies offering proof. Full article here.

The Association of Mature American Citizens (AMAC) believes 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 the highest income beneficiaries plus gradually increasing the full (but not early) retirement age.  AMAC’s plan also increases the threshold where benefits are taxed and then indexes for inflation, and the plan eliminates reducing 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 a great many congressional offices and their staffs over the past decade.  See it here.

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