Friday, February 8, 2013

US Debt Reduction Sequester Spending Solution #2: Lower Social Security Benefits For Those With High Retirement Asset Accumulations

My recommendation here is that any individual who has a total fair value of all his retirement assets, including the value of his pension benefits, of more than $10 mil 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 retirement assets, including the value of his pension benefits, of between $5 mil and $10 mil at the end of any year is eligible for 50% of the social security benefits he otherwise would have received in the following year.

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