Greenspan on Social Security

[Tfbandie]

Rising pressure on U.S. finances from an aging population makes it vital to fix the social safety net soon with steps such as raising the age for full retirement benefits, Federal Reserve Chairman Alan Greenspan said Friday.

http://money.cnn.com/2004/08/27/news...ex.htm?cnn=yes

Now that's one measure I had been thinking about for a while when SS concerns are raised. Life expectancy as gone up since it was instituded, and people are healthier later in their lives. Would raising the age (slowly, such as 1 year every two or three or whatever) help solve the problem? Be a quick fix to help control the problem a little? Or do you think it doesn't reall matter or might be more harmful. I know some of you guys want privitization for majority of SS, what would be a good way to make the switch?

[kofh2u]

http://money.cnn.com/2004/08/27/news...ex.htm?cnn=yes

Now that's one measure I had been thinking about for a while when SS concerns are raised. Life expectancy as gone up since it was instituded, and people are healthier later in their lives. Would raising the age (slowly, such as 1 year every two or three or whatever) help solve the problem? Be a quick fix to help control the problem a little? Or do you think it doesn't reall matter or might be more harmful. I know some of you guys want privitization for majority of SS, what would be a good way to make the switch?

1) Ralph Nader explains that the SS's own actuary numbers predict NO crisis.
He says the issue is used by both parties to manipulate the SS voters.

2) Nobody notices that even though the few workers must support a large aging group of baby boomers, those RICH baby boomers are going to leave a massive amount of Real Estate and Stocks/Bonds, etc.

These poor hard working, tax paying, SS contributing people in the younger generation are meekly inheriting the "earth." What we, the people, need do is review inheritance tax structure so we can up the benefits and reduce the needee SS payroll contributions at one and the same time.