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Social Security panel urges tax on half benefits and tax funding
Washington AP report says the Advisory Council on Social Security recommends taxing half of retirees benefits, cutting payroll deductions, funding Medicare with general revenues, revising benefit formulas, and twice yearly COLA during inflation. It backs earnings sharing for women, contemplates raising retirement age after 2000, liberalizing disability, and doubling the $255 burial benefit, while opposing most proposed minor cuts. The 13 member panel notes broad consensus but deliberate dissent remains on several points.
MENTIONED IN THIS ARTICLE
Washington
Congress
Advisory Council On Social Security
Social Security
Carter
Council
Henry Aaron
Brookings Institution