Should the Government Raise the Retirement Age?
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Should the Government Rake the Retirement Age?
Raising the retirement age would cut benefits for everybody by 13 to 50%. That means the average monthly Social Security benefit, which is only now $1,800 per month, should fall to under poverty levels at 1,500. Theresa: There are plenty of non-regressive growth-promoting ways to raise money to pay full Social Security benefits. The cuts will just make our already very high elderly poverty rates much higher and hasten downward mobility of older workers who are already predicted to be poor in retirement.
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