East Lansing talks Social Security

An audience of 40 for AARP Michigan's You've Earned a Say event in East Lansing on June 28 had plenty to say about Social Security.

 Many of the comments were aimed at the so-called "Chained CPI" proposal, which advocates using a new formula to calculate a reduced annual cost-of-living increase for Social Security.

 "There are legitimate fixes for Social Security that are reasonable," said Gregory Jones of East Lansing, who said a small raise in the payroll tax should be considered, among other alternatives.

  "Plans like the chained CPI are going to take money away," he said.

 Marion Walsh of East Lansing said Social Security pay-outs didn't create the federal deficit, so the retirement benefit should not be used to solve the fiscal problem.

 And Mary Pollock of East Lansing said "chained CPI shouldn't even be on the table for Social Security" because the reduced cost-of-living formula it embodies doesn't apply to retirees.

 The 90-minute event focused on the future of Social Security. The issue was framed by Lisa Dedden Cooper, AARP Michigan Advocacy Manager and Melissa Seifert, AARP Michigan Associate State Director for Economic Security.

Watch video of the event here: http://youtu.be/Rm8glbLLVDc