AEIdeas

The public policy blog of the American Enterprise Institute

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Discussion: (8 comments)

  1. re: reducing SS taxes on older workers.

    Given the fact that FICA is 15.3% of an employers employee expenses – doing this could have the perverse effect of making older workers cheaper than younger ones and if cuts had to be made – you’d get a lot more bang for the buck by firing the younger ones.

  2. Claire Weber

    I have worked as a nurse since my graduation, 1952. I retired in 2009 working for most of my career in the private sector but the last 22 yrs for the govt. I truly don’t feel that I am getting adequate ss for all the yrs I’ve paid into the system. Whom should I contact.

    1. Like you I worked both for the private sector and the Federal Govt. I’m still working for the govt. covered under the CSRS Offset retirement system.
      We are subject to either the WEP or GPO which either reduces a federal pension or a social security benefit.
      Contact SSA for details regarding the WEP / GPO.
      Hope this helps.

  3. Perfect! Yet another policy to help the Babyboomer generation, (the same generation that got us into this fiscal mess in the first place) at the expense of the younger generations…

  4. Amusing that you are treating SS other than the welfare scheme that it is. Also, what about all of us poor suckers who come after the Boomers and are unlikely to see much, if any, benefit from our years of contribution?

    1. Just think, you could be like the 54 million aborted at birth and not had to pay any taxes. Suck it up and get on with life!

  5. I am 63. I fully intend never to retire-I like working and being productive too much. I have no care whatsoever how much my “benefits” will be.
    That said, I LOVE the idea of reducing my FICA taxes when I reach normal retirement age (66). So, you young sprouts out there, know that at least one boomer won’t be a drain on you.

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