Reuters discusses AARPs plan

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Reuters discusses AARP’s plan to strengthen Social Security by raising the payroll tax cap to $140,000, which they say would reduce the long-term shortfall by 43%. They also support having the SSA invest part of the Trust Fund in what I take to be an index fund, which they say would handle another 15%.

This is the plan Conscience Caucus member Rep. Ginny Brown-Waite (R) of Florida is excited about.

(ed.note: As we discussed on Saturday, while phase-out supporters will seek to confuse the issue, having the Trust Fund invest some money in private securities is entirely different from phase-out with private accounts. Whether it’s a good idea or not is a complicated question, but it is entirely different from private accounts. For more, see the post.)

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