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February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
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Jewish World Review
Jan. 14, 2005
/ 4 Shevat, 5765
Index retirement age or pay for it in 2006
By
Dick Morris
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http://www.JewishWorldReview.com |
For President Bush to succeed in his bold attempt to reform Social Security, he needs to realize that while the nation is ambivalent on his proposal to permit the investment of Social Security taxes by individuals it is deeply convinced, by years of publicity, on the need to do something to stop the system from going broke.
This fear of failure is the key element in the reaction of American voters to any attempt to fix Social Security. Fear of no retirement income is a key and vital element in our political construct and must not be taken lightly. While the president's priority is to allow private investment, his constituents expect restructuring to avert bankruptcy.
That leaves three ways to protect Social Security in the years to come: raise taxes, cut benefits or rely on increased revenues in private accounts as a result of the partial privatization. Supply-side conservatives in the White House are doubtless going to push the third option.
But Americans won't buy it. They may be willing to gamble that the federal budget deficit will go away as a rising tide lifts all boats, but they are not going to bet their retirement on it. The administration cannot have its cake and eat it, too. It cannot privatize Social Security and then cite the hoped for increased revenues as the way to prevent the system from going bankrupt. If it tries to do that, it will give the Democrats the best of all possible issues for the 2006 midterm elections.
We all know that Bush will not raise taxes, least of all the Social Security tax, which is the most regressive of all federal levies. So he has to cut. While he can likely win the debate about how to privatize some of Social Security, he will find himself mired in the debate about how to cut benefits instead. Democrats will mix their issues and blame the Bush tax cuts for the reductions in Social Security benefits and will have a field day with the issue.
The history of presidential initiatives' being sidetracked from their main objectives is extensive. As first lady, Sen. Hillary Clinton (D-N.Y.) first wanted to cover the uninsured. Her husband wanted to cut the cost of healthcare. But they ended up debating physician choice instead. When Clinton proposed his economic stimulus package, he found himself debating the merits of paying for swimming pools and midnight basketball.
Bush cannot avoid the central question: He must find a way to cut Social Security benefits for future retirees without undermining his political support.
The answer, as I have mentioned before in this space, is to index retirement age to life expectancy. An outright increase in the retirement age will evoke howls of protest, but linking it to life span will seem appropriate and acceptable to most Americans. After all, if medical science can raise the current life expectancy of 77 years to 100 in the next decades, are we going to have to fund 45 years of retirement? When will it stop?
As we live longer, we stay fit and vital longer. It is appropriate that our work lives extend longer. Socialist countries throughout the world love to lower retirement ages to make people prematurely dependent on the government. But we should move in the opposite direction. In the long run, indexing retirement to life expectancy will yield enormous revenues to the system, far more than a one-shot increase in the age in the current legislative cycle.
The alternative — basing Social Security benefit increases on cost-of-living increases rather than wage increases — smacks of making people retire on less and is likely to be much less politically acceptable than indexing the retirement age.
Bush needs to proceed with care on this issue. He is gutsy for tackling it in the first place, and he must make sure not to step on any land mines in the process.
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JWR contributor Dick Morris is author, most recently, of "Because He Could". (ClickHERE to purchase. Sales help fund JWR.) Comment by clicking here.
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