GOP senators propose raising age for Social Security benefits

[cal04]

http://politicalticker.blogs.cnn.com/2011/04/13/gop-senators-propose-raising-age-for-social-security-benefits/

On the day President Obama announced his vision for curbing the costs of entitlement programs and reining in the nation's deepening debt, three conservative Republican senators announced their plan to raise the eligibility age for Social Security to 70 while lowering monthly payments to upper-income retirees.

"There is no way in God's green Earth to save America from bankruptcy until you deal with entitlements," said Sen. Lindsay Graham, R-South Carolina. "Social Security, Medicare and Medicaid, combined in the next twenty years, is going to absorb every dollar of revenue coming to this place. There will be no money left for anything else."

Under the plan, sponsored by Graham, Sen. Rand Paul of Kentucky and Sen. Mike Lee of Utah, the retirement age for full Social Security benefits would gradually increase to 70 in 2032. After that, the retirement age would be adjusted to match life expectancy. People who earned $43,000 or less on average over the years they worked would be exempt from means-testing while those who made more money would see their monthly payments lowered.

"Upper income Americans under our plan have to give up future benefits. Three, four hundred dollars a month," Graham said. "It's better for them to give up future benefits than it is to raise taxes on them now cause if you raise taxes on them now, some people will lose jobs."

[Renew Deal]

1. I know how to save 50K Lindsey!

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=880825&mesg_id=880825

[ProfessionalLeftist]

2. Actually...

....it's defense that sucks up every dollar coming into that place - maybe even some from the SS Trust Fund.

[AnneD]

3. As long as we can do a 2 term limit on ....

Congressional terms and have them receive Social Security as their only pension while we are at it, I don't have a problem with that. I mean, in these hard times we all have to take a haircut. :sarcasm:

[Raven]

4. These people are Communists. What I made while I was working

went to support other people on SS. Why should I be penalized now for making that contribution to my fellow citizens. And, life expectancy????? Really. Who is going to determine that?

[Angry Dragon]

5. Get rid of congressional pensions

we can no longer afford them

[gratuitous]

6. You think light travels quickly?

Watch how fast this becomes bipartisan.

[DCBob]

7. This really does not make much difference since the vast majority are taking early retirement at 62.

Unless they are proposing to move that up too. I did not see that mentioned in the article.

[Avalux]

8. Fucking assholes.

Social Security means nothing to the wealthy. For the rest of us, it's all we'll have.