Friday, February 15, 2013

US Debt Reduction Sequester Spending Solution #8: Lower Social Security Benefits For Those With High Non-Retirement Net Asset Accumulations

My recommendation here is that any individual who has a total fair value of all his non-retirement net assets of $10 mil or more at the end of any year is eligible for no social security benefits in the following year.

And any individual who has a total fair value of all his non-retirement net assets of between $5 mil and $10 mil at the end of any year gets his social security benefits reduced in the following year by 50% of such amount he otherwise would have received.

Given the $16 trillion of US Debt, this is a fair and wise way to reduce US Government spending.