Ryan Attempting To "Sell" Means-Testing....Sort-Of

[Mr. Shaman]

"A Republican plan to rein in the rising cost of Social Security would dramatically reduce retirement benefits for middle- and upper-income Americanshttp://www.washingtonpost.com/wp-dy...10/20/AR2010102005862.html?hpid=moreheadlines, especially those now younger than 25, according to an analysis released Wednesday by the program's chief actuary.

The plan, by Rep. Paul Ryan (R-Wis.), would reduce benefits by gradually raising the retirement age and gradually trimming benefits for the top 70 percent of earners.

Together, the two provisions would slice initial benefits by about a quarter for middle-income Americans who turn 65 in 2050, according to the analysis. Wealthier retirees would see even deeper cuts, losing about a third of scheduled benefits in 2050 and more than half of scheduled benefits if they turn 65 in 2080.

But the report by Stephen Goss, chief actuary for the Social Security Administration, also examines other ideas for overhauling the program, including several under discussion by a bipartisan deficit-reduction commission appointed by President Obama. Leaders in both parties say Social Security may present the best opportunity for compromise on the commission, which is due to issue a report Dec. 1."

Why would it be so difficult, making (whatever) cuts, dependent-upon benefits being a percentage of total-income???​

 

[NYcarbineer]

Paul Ryan wants to soak the rich?

Fascinating.

 

[LordBrownTrout]

I think everyone should have the opportunity to opt in or out of SS. Basically, its a govt ponzi scheme. They steal out of it issuing iou's all of the time. Madoff is serving 150 years for that crap but our govt gets a pass.

 

[Mr. Shaman]

I think everyone should have the opportunity to opt in or out of SS. Basically, its a govt ponzi scheme. They steal out of it issuing iou's all of the time. Madoff is serving 150 years for that crap but our govt gets a pass.

.....And, your options are what....the $TOCK MARKET??!!!