"... allow people of retirement age the option of continuing to work as long as they want, but tax-free. Since they are working, they would receive no Social Security benefits. Obviously this would not apply to any funds in a private account. Since they weren't going to be paying taxes anyway, there's no negative impact on revenues. Employers gain experienced help at a bargain. Seasoned Citizens get a whopping raise. And even if only a few percent take advantage for a few years, it could go a long way toward offsetting the shortfall. I'm not qualified to analyze the proposal in detail, but it intuits well. So I'm askin' ya: What do you think?
I think it's a GREAT idea. And I wonder: HOW SOON CAN WE LOWER THE RETIREMENT AGE!? Heh.
Seriously: we can EASILY give people over 65 an income tax cut and/or a cut in their FICA. And I think this should be part of any overhaul which includes personal accounts. And, we can MEANS TEST PERSONAL ACCOUNTS, making it most available to lower income workers.
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