Maybe no bankruptcy since USA can print its way out of trouble, but
1. high inflation can reduce purchase power;
2. reduced benefits or delink benefits to inflation adjustment (ng to chained-cpi is a move in that direction);
3. increasing limits of income subject to SS is effectively a higher tax on high-income earners.
So what difference does it make to have a SS only in name?
SS is not sustainable as it stands. but there is lots of objection from low-income earners. The earlier the country and its citizen can face reality, the easier it is to put it on a long-term sustainable path.
So what difference does it make to have a SS only in name?
SS is not sustainable as it stands. but there is lots of objection from low-income earners. The earlier the country and its citizen can face reality, the easier it is to put it on a long-term sustainable path.
just my 2c
