What is a likely cost or tradeoff of each course of action?
PERSPECTIVE
Redefine the contract to make Social Security sustainable
QUESTION
What is a likely cost or tradeoff of each course of action?
ANSWER
If the retirement age is increased, Americans will have to stay in the
labor force a year or two longer to qualify for benefits. Benefits for
upper-income retirees would be reduced. Workers and employers would
both be required to pay more in Social Security taxes.
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