Any plan to revamp the Social Security system runs up against the same hard truths. In 13 years retirees will be taking out more than working people are putting in. About 25 years later, the trust fund set aside for that gap is projected to disappear. Whether or not that expected shortfall is an immediate crisis, at some point we will have to tip the scales to set things right. That means putting in a little more (higher taxes) or taking out a little less (smaller benefits). The last major overhaul, in 1983, did a bit of both. The plan favored...
To continue reading:
or
Log-In
