Poll: What would you do about Social Security?

 

Currently workers can start to receive Social Security retirement funds when they turn 62. However, this is the early retirement age, the full retirement age depends on when you were born. For instance, if you were born between 1943 and 1954, you receive full benefits if you retire at age 66. If you were born in 1960 or later, your full retirement age is 67. (See Chart Below)
 

House Minority Leader John Boehner (R-OH) in a recent interview with the Pittsburg Tribune (see video below) suggested that retirement age should be raised to 70 along with a few other ideas.

Sharron Angle wants to end Social Security as we know it. She wants to “phase out” Social Security, and favors “privatizing” Social Security where instead of workers giving money to the federal government for their retirement, they would give it to a private bank who would set up a private retirement account and the money would be invested in stocks. Which did not work out very well for the millions of Americans who lost half of their 401k’s when the market crashed in 2008.

President Obama during his campaign for President said that there is an easy fix for making Social Security solvent again and that is to raise the cap from $106.800 to $150.000, which he said would guarantee Social Security’s solvency for 100 years. (Source: Congressional Budget Office)

Here’s the Question:

Should we Phase out Social Security, Raise the Retirement Age, or Raise the Cap on Income Taxes?

Poll:

John Boehner (R-OH) interview

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