America's Demographic Cliff: The Real Issue In The Coming, And All Future Presidential Elections

Zero Hedge ^ | 19/8/2012 | Tyler Durden

[Atlas Sneezed]

2). Increase age to be eligible for benefits. Age 65 for “early retirement”’ age 70 for full retirement. It will not matter that jobs won’t exist or some will not be healthy enough to work.

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Very simply, float the retirement/qualification age annually to maintain annual solvency. No borrowing to pay retirement benefits.

It will mean a much later retirement down the road, but no major shifts for any one cohort without plenty of time to plan.

Anyone who doesn’t like it is free to save extra each year when they are working.

[Atlas Sneezed]

Good points. An analogy for the “my money” issue is:

“If your neighbor to the north steals from you, it doesn’t mean that the property of your neighbor to the south now belongs to you.”

[whd23]

IIRC under Clinton, with Al Gore as the deciding vote Social Security became taxable.

You recall slightly incorrectly.

SS benefits became taxable in 1984. However in 1993 Gore did provide the tie-breaking vote to increase the taxable amount of benefits for 'high income' beneficiaries.

Source

[khelus]

Re: IRC under Clinton, with Al Gore as the deciding vote Social Security became taxable.

You recall slightly incorrectly.

SS benefits became taxable in 1984. However in 1993 Gore did provide the tie-breaking vote to increase the taxable amount of benefits for 'high income' beneficiaries.

Source

Thanks for the correction and updated link.

[whd23]

Thanks for the correction and updated link.

It was my pleasure!