Sam Stein stein@huffingtonpost.com | HuffPost Reporting First Posted: 08- 8-10 12:37 PM | Updated: 08- 8-10 12:37 PM
Top Republican leaders in the House offered a fairly strong signal on Sunday that they would favor a down-the-road raising of the Social Security retirement age as part of an effort to revamp the entitlement program.
Appearing on NBC's "Meet the Press," Minority Leader John Boehner (R-Ohio) said it was time "for the American people to have an adult conversation about the problems that we face" with respect to Social Security's solvency.
"We also know these programs are unsustainable in their current form," said the Ohio Republican. Asked specifically if he supports raising the retirement age to, say, 70, Boehner replied: "There are a lot of options on how you solve these, but I don't want to put the cart before the horse."
This wasn't the first time Boehner had broached the idea of raising Social Security's retirement age.
The Minority Leader offered the same suggestion in an interview in late June. Back then, Democrats jumped on the remark.
Rightardia comment: The real problem with Social Security is the $108,550 cap that has to be raised periodically to keep the fund solvent.
Democrats have discussed a social Social donut that would exempt the first $250,000 of income for the FICA tax and put the burden of the Social Security tax on the more affluent Americans. A simpler solution would be to tax 100 per cent of income as Medicare does.
Since the inception of Social Security, the FICA tax has been borne by the Middle Class.
The GOP obviously doesn't want the FICA tax, which funds Social Security, to be raised so it affects the 'have mores,' which is the GOP base. It would prefer to raise the retirement age which will affect millions of Americans and put many seniors on the welfare rolls.
source: http://www.huffingtonpost.com/2010/08/08/boehner-pence-social-security-retirement-age_n_674793.html
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Appearing on NBC's "Meet the Press," Minority Leader John Boehner (R-Ohio) said it was time "for the American people to have an adult conversation about the problems that we face" with respect to Social Security's solvency.
"We also know these programs are unsustainable in their current form," said the Ohio Republican. Asked specifically if he supports raising the retirement age to, say, 70, Boehner replied: "There are a lot of options on how you solve these, but I don't want to put the cart before the horse."
This wasn't the first time Boehner had broached the idea of raising Social Security's retirement age.
The Minority Leader offered the same suggestion in an interview in late June. Back then, Democrats jumped on the remark.
Rightardia comment: The real problem with Social Security is the $108,550 cap that has to be raised periodically to keep the fund solvent.
Democrats have discussed a social Social donut that would exempt the first $250,000 of income for the FICA tax and put the burden of the Social Security tax on the more affluent Americans. A simpler solution would be to tax 100 per cent of income as Medicare does.
Since the inception of Social Security, the FICA tax has been borne by the Middle Class.
The GOP obviously doesn't want the FICA tax, which funds Social Security, to be raised so it affects the 'have mores,' which is the GOP base. It would prefer to raise the retirement age which will affect millions of Americans and put many seniors on the welfare rolls.
source: http://www.huffingtonpost.com/2010/08/08/boehner-pence-social-security-retirement-age_n_674793.html
Subscribe to the Rightardia feed: feeds.feedburner.com/blogspot/IGiu
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