Tuesday, May 29, 2012
Raise Social Security retirement age according to means?
New York Times Opinionator Ezekiel J. Emanuel (complete with prophetic Biblical spaceships) offers as missive on May 21, 2012, “Entitlement Reform for the Entitled”, and suggests that the eligibility age for Social Security benefits (and maybe Medicare) be increased with lifetime earnings. Richer people live longer and probably have worked in less risky jobs, he writes. The link is here.
This is not quite the same as "conventional" means testing, because wealthier beneficiaries would eventually collect their amounts, just later, if they lived long enough.
Emanuel wants Congress to consider his proposal by no later than 2013, preferably even in 2012's lame duck session.
Letters to the Times today suggest that we need a fundamental debate on what “fairness” means. Is it recoupment of “annuity premiums” you’ve paid in, or is it “need”?
I remember the potshots taken at Marxism in the barracks, by generally well-educated men, when I was in the Army in the late 60s. But what is “war” about, anyway?
The New York Times is also reporting about the overdependence on "Wall Street performance" by public pension fund managers.