In fact, many individuals approaching retirement have less than $150,000 saved in their retirement accounts. What's more, half of workers do not have access to a 401 or other workplace retirement plan at all.
Munnell is not the only one who wants to preserve benefits and raise taxes. The Social Security 2100 Act, a current proposal before Congress, calls for similar changes in an effort to make the program solvent through the year 2100. "It's basically a proposal that is designed to maintain the current level of benefits with a few enhancements," she said.Boston University economics professor Laurence KotlikoffLaurence Kotlikoff, an economics professor at Boston University, sees Social Security as a patchwork of rules that has been cobbled together since the program was established in 1935.
Any “expert” that doesn’t recommend ending it, opt outs, or changing it to an account in the individual’s name that cannot be touched by government and can be invested as they want isn’t serious. Anything else is just continuing the biggest Ponzi scheme in history.
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