Cuts in Social Security, Confiscation, or Wealth Redistribution?

The Governor of New Jersey, Chris Christie, gave a speech on Tuesday, April 14, 2015, in which he proposed, among other things, raising the retirement age from 67 to 69. He stated that, “We should remember that Social Security at its core should be retirement insurance. I’m suggesting that Americans pay into the system throughout the course of their life, knowing that it will be there, if they need it, to support them in their later years, so seniors will not grow old in back-breaking poverty. But, if you are fortunate enough not to need it, you will have paid into a system that will continue to help Americans, neighbors, friends, who need it the most…. It is fair, and it is what we must continue to do. We can only do that by changing Social Security.” http://www.wsj.com/articles/christie-to-call-for-raising-age-for-social-security-cutting-benefit-for-some-seniors-1429018212 Continue reading