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Some reasonable Social Security reforms
Under current law, Social Security’s trust fund will run dry by the late 2030s. This doesn’t make Social Security a Ponzi scheme, and it doesn’t mean young workers will get no (or even dramatically reduced) benefits. But it does mean that we face a long-run shortfall. Aside from dramatically restructuring the whole system, there are only two options, mathematically, to cover it: higher taxes or lower benefits. The current default policy is across-the-board benefit cuts: sometime before 2040, the trust fund will be gone and monthly receipts simply won’t cover scheduled payments...Read More
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