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NEW YORK (CNNMoney) -- The AARP said Friday it expects Social Security benefit cuts to be part of a package to make the program solvent for the long run.
To hear the AARP tell it, that's been its position all along. But to deficit hawks and Social Security advocates, it's big news.
"Expects" benefit cuts is not the same as "supports" benefits cuts, although it does seem as if AARP is talking out of both sides of its mouth. However, I've long ago stopped expecting AARP to make sense. What I don't get is why a package of multiple, but minor, fixes has not already been proposed. Some people advocate their favorite fix, but the more fixes there are the smaller each fix has to be, thus resulting in the most painless solution overall. Imagine this combination: (1) Increase the "full retirement age", but only by one year and only for those people now age 45 or younger, thus giving plenty of notice. (2) Increase the payroll tax cap slightly without also increasing the benefit cap, thus throwing an additional slight burden on high wage earners. (3) Increase the payroll tax rate itself very slightly. (4) Cut benefits by a very small amount - very small, and tie these cuts to means testing. Yes, this again adds to the subsidy which the wealthy are giving the poor, but we are talking about keeping the system solvent, a very important goal.
There's been an uproar about AARP's stand on Social Security benefit cuts. One time AARP says they do not endorse cuts, then they say that they 'expect' cuts to be made, then they [supposedly] say they support that cuts be made, then they deny saying these things. All this is much like the AARP debacle concerning their stand on Obama Care.
Personally, I think AARP is pretty much worthless on everything.
In case you all forgot the govt is investigating AARP about 500 million dollars the so call non for profit has in the bank.I bet you the scum AARP has made a deal with the govt about the 500 million they have in the bank.
"Expects" benefit cuts is not the same as "supports" benefits cuts, although it does seem as if AARP is talking out of both sides of its mouth. However, I've long ago stopped expecting AARP to make sense. What I don't get is why a package of multiple, but minor, fixes has not already been proposed. Some people advocate their favorite fix, but the more fixes there are the smaller each fix has to be, thus resulting in the most painless solution overall. Imagine this combination: (1) Increase the "full retirement age", but only by one year and only for those people now age 45 or younger, thus giving plenty of notice. (2) Increase the payroll tax cap slightly without also increasing the benefit cap, thus throwing an additional slight burden on high wage earners. (3) Increase the payroll tax rate itself very slightly. (4) Cut benefits by a very small amount - very small, and tie these cuts to means testing. Yes, this again adds to the subsidy which the wealthy are giving the poor, but we are talking about keeping the system solvent, a very important goal.
We totally disagree. Why would it be an important goal?
NEW YORK (CNNMoney) -- The AARP said Friday it expects Social Security benefit cuts to be part of a package to make the program solvent for the long run.
To hear the AARP tell it, that's been its position all along. But to deficit hawks and Social Security advocates, it's big news.
I won't be joining the AARP then. The whole reason for them is to fight for SS and Medicare. If they cannot do that, don't need them. BTW they already raised the age to 67 for full benefits.
Pretty much what the trustees reported . They have it at estimated 77% of benefits across the board by law when it comes.Promised too much to too many people really.
They need to do away with the earnings cap entirely.
The earnings cap corresponds to the pay-out cap. Do away with one and you have to do away with the other.
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