The Political Risk of Delaying Social Security Until 70
via Oblivious Investor by Mike on 5/6/13
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Some people argue that holding off on claiming Social Security is akin to betting that there won’t be any rule changes. I don’t think that’s true. While certain Social Security reforms would make it advantageous to claim earlier, other reforms wouldn’t change the decision at all, and others could actually make it more advantageous to delay claiming benefits.
The five potential Social Security reforms that I see suggested most often are:
Increasing or eliminating the payroll tax cap,
Increasing the payroll tax rate,
Increasing the full retirement age,
Means testing benefits in some way, and
Switching from regular CPI to chained CPI for calculating cost of living adjustments.
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One would hope that once you begin to collect that “they” won’t change the rules ex post facto.
We now that they can and do (i.e., the taxability of benefits).
But the Sheeple and Clover let them get away with it.
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