Whatever the President says about Social Security in his State of the Union speech, the push to cut it will continue. A great deal of time, effort, and money has been expended to make sure that it does, and to promote a very limited set of policies for reducing retirement benefits. The centerpiece of those proposals is a plan to raise the retirement age to age 69 by 2075.
This harsh idea is being defended with a promise that there will be a "hardship exemption" for workers whose jobs are too demanding. But that's a promise that's destined to be broken.
There are many reasons why this solution won't work, and here are eight of them: The future is unpredictable. It will be difficult and bureaucratic to define "hardship." The definition of hardship is too limited. Age discrimination leads to unrecognized hardship. It will create cumbersome administrative and legal processes. They're not setting enough money aside. Hardship's impact will be discriminatory. And last but not least, relying on the 'hardship exemption" calls on us to trust politicians even as they're in the act of breaking a commitment.
Let's look at those eight reasons more closely: more »
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