On Sun, 2 Aug 2015 19:19:05 -0500, amdx wrote:

On 8/2/2015 4:37 PM, Ed Huntress wrote:
On Sun, 2 Aug 2015 14:10:50 -0700 (PDT), "
wrote:

On Sunday, August 2, 2015 at 3:48:55 PM UTC-4, Ed Huntress wrote:


There is no problem with Social Security. That's another myth.

--
Ed Huntress

You might make a fuller explaination of this.

Read the whole thing, Dan. It says about the same thing that was said
in 1987. Social Security needs another adjustment like it had it
1988.

What was the 1988 adjustment?
All I can find is, " (COLA). This adjustment, which was effective for
December 1988, resulted in a $728 million increase in the monthly
benefits ..."
And something about the notch.

I can only come up with 4 fixes, raise the retirement age, cut
benefits, increase FICA taxes and remove/increase the cap.
Cutting benefits, a political nightmare.
Increase taxes, rough but probably doable.
Raise the retirement age, doable.
Remove/increase the cap, doable.

Got any others?
Your thoughts.

Mikek

Eh, sorry, Mikek, that was 1983 -- the Greenspan commission. It's
getting harder to remember dates...

As for your suggestions, I generally agree. Means testing is an
essential one, IMO. Be prepared to make adjustments quickly with
changes in the economy and employment, is another.

I'd bump up the retirement age at least two years or so.

Then do an analysis with a few assumption options on the economy, and
see if anything else needs to be done. And get started quickly, so the
adjustments are as gradual as they can be.

--
Ed Huntress