Take A Stand: Because It’s Personal

By Byron Kamp

With only six weeks left until the last votes are cast in the 2016 Presidential Primary election "season," it becomes even more urgent for each of us to become an active participant in the process. By the end of July, both the Republicans and Democrats will have selected their respective candidates. With their convention acceptance speeches ringing in our ears, the Race to the White House will be in full swing.

The world has changed a lot in 80 years. Social Security needs to be updated for the 21st century so we can keep the promise we’ve made to future generations. Estimates indicate the program will be able to pay full benefits for the next 20 years but only around 75 percent after that. Here are summaries of 12 options being talked about in Washington and on the campaign trail. Each summary is accompanied by two opinions that AARP commissioned from experts whose views typically represent different sides of the issues. Below, Romina Boccia, the Heritage Foundation and Virginia Reno, formerly with the National Academy of Social Insurance share their opinions on a wide range of proposals that impact the future of social security.

Social Security: The Proposals

• Raise the Full Retirement Age

• Begin Longevity Indexing

• Recalculate the COLA

• Increase the Payroll Tax Cap

• Eliminate the Payroll Tax Cap

• Reduce Benefits for Higher Earners

• Increase the Payroll Tax Rate

• Tax All Salary Reduction Plans

• Cover All Newly Hired State and Local Government Workers

• Benefit Improvements

In order to read both the PRO and CON for each proposal go to this web  site: http://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So what good will this do - you mumble under your breath. You will be knowledgeable about the issue and knowledge brings power. The power to discuss this issue in depth with the candidates, your friends, family and members of organizations which you belong. Remember Social Security is the Country's "Pension Plan." It is not an entitlement; it is a Promise.