About 2.5 million Baby Boomers are turning 70
this year. They are the leading edge of the roughly 76 million Baby Boomers who
were born during 1946-1964. They’re getting older every day.
Even if you’re not a Boomer, you need to care
about this cohort. Folks who are 70+ use lots more health care than younger
people, and a great many of them collect Social Security benefits.
In fact, Medicare spending and Social Security
benefits account for close to 45 percent of federal spending.
We need to raise the Social Security retirement
age, and remove the cap on earned income (now $118,500) that’s subject to the
Social Security tax.
That’s plain talk.
Copyright © Richard Carl Subber 2016 All rights reserved.
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