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Social Security Cliff in Sight

Ned6 Wrote: Jan 18, 2013 11:36 AM

The right answer is to build a "safety-net" into a new "progressive flat-tax" that is far more progressive than the current code. Progressivity in the code would be funded not only from tax deductions, but by abolishing means-testing programs, and incorporating a portion of current Entitlement payments. Once we have a "safety-net" that brings base income up to the poverty-line, we can then talk about privatizing the remaining 2/3 of Entitlements. If the "blue" states want higher safety-net levels, let them fund it. Graham's idea of building more incentive destroying means-testing into our entitlement programs is awful.

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Social Security Cliff in Sight

In response to my post Making Social Security Actuarially Sound in a Business-Friendly Manner I have been exchanging emails and phone conversations with Jed Graham at Investor's Business Daily.

Jed thinks benefit cuts will happen, and I agree. However, Social Security cuts are considered the "third rail" in politics.

If you are not familiar with the term, it means anyone espousing cuts cannot be elected.

Retirees Will Outlive Trust Fund

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