The Source: Resetting And Rethinking Social Security
Despite the numerous debates entitlement programs have not been a topic of conversation in the race for President this season. According to the Social Security Administration, without congressional action, there will be automatic reductions in benefits for recipients later this year.
For 20 years, the idea of the program running out of funding during the baby-boomer generation has been understood. What do we need to do to keep that program around?
Ann Alstott, expert in Taxation at Yale University Law School, says the problems of Social Security have been exaggerated. Her new book "A New Deal for Old Age" makes the case that the money is there, but that how we apportion it is wrong, with low-income workers being shorted.
She proposed radical rethinking that would lower the collection age for those whose jobs are labor-intensive and raising - to 76 - for white-collar workers.
- Ann Alstott, Jacquin D. Bierman Professor in Teaxation at Yale Law.