The course weblog for PA5113, State and Local Public Finance, at University of Minnesota
Thanks for posting the article. What do others think of a "need-based" structure for social security? One in which the amount you are entitled to is related to some measure of current wealth (ie - wealthier individuals would qualify for smaller social security benefits)? I believe currently the only determinant of benefit level is the amount you have paid in. Many other government programs operate based on a system in which benefits are phased out as income rises (property tax refund, etc.) Just a thought...
Thanks for the article. Very sobering. As for a need-based structure, I don't think it would fly in today's political climate. When I was door-knocking during the campaign it was clear that many people are "tired of paying for other people's problems." But certainly something needs to change, and whatever those changes are will make somebody angry.
I agree Becky that many folks won't like the idea. We all have a very strong feeling of entitlement - a very American trait I believe... Thanks for the comment.