The Only Way That Social Security Pays Retirees Nothing
Brenton Smith, who writes nationally on Social Security issues, reviews a sometimes talked about concept where workers who want out of the Social Security program would be free to leave. He explains this is an impossible choice given how the program is an inter-generational transfer of funds. Allowing an opt-out would accelerate trust fund depletion. Smith concludes the piece by acknowledging the crisis continues to deepen as long as lawmakers avoid tackling the impending insolvency issue. Full article here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.