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Warren Buffett on Social Security Reform - The Motley Fool
One of the financial world’s most seasoned icons is on record with opinions on key changes that should be considered to address Social Security’s insolvency. These opinions were recapped in a recent post by The Motley Fool contributor and Certified Personal Finance Counselor Marc Guberti and are surprisingly close to several of the recommendations embedded in the AMAC Social Security recapped in yesterday’s headline post on this site. In addition to advocating a full retirement age setback, Buffett supports further means-testing of benefits and suggests eliminating the taxable maximum (although it’s not clear whether the additional tax paid would factor into the benefit calculation).
In any event, Buffett’s reputation as a savvy financial authority is likely to be considered in the mix as Congress (eventually) grapples with the daunting task of modernizing Social Security to meet the demands of our 21st Century economy.