Raising retirement age hurts poor

[cal04]

http://news.yahoo.com/s/ap/20101118/ap_on_bi_ge/us_social_security_retirement_age

Raising the retirement age for Social Security would disproportionately hurt low-income workers and minorities, and increase disability claims by older people unable to work, government auditors told Congress.

The projected spike in disability claims could harm Social Security's finances because disability benefits typically are higher than early retirement payments, the Government Accountability Office concluded.

The report, obtained by The Associated Press ahead of its scheduled release Friday, provides fodder for those opposed to raising the eligibility age for benefits, as proposed by the leaders of President Barack Obama's deficit commission.

"There's more to consider than simply how much money the program would save by raising the retirement age," said Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging. The report shows an unequal effect on certain groups of people, he said Thursday, and many of them "would have little choice but to turn to the broken disability program."

[geckosfeet]

1. Well it's their own fault for being under-educated do nothings who are not smart enough

or motivated enough to be bankers and investment managers.
mother of all :sarcasm: smileys

[rocktivity]

2. Raising the Social Security Salary Cap helps everyone

Eliminating helps everyone pay a lower rate. But of course, that isn't even a subject of conversation.

:headbang:
rocktivity