What's wrong with fixing Social Security? [View All]

[RaleighNCDUer]

I don't mean fixing like Bush's plan, which resembles fixing my cat, but simply bringing it up to date.

When SS was created they more or less arbitrarily chose retirement age as 65 because that was the age at which significant numbers of workers became liabilities due to age related illness. A person worked 45 - 50 years, retired for 10, then died.

With today's advances in healthcare, that could easily be moved up 10 years, retire at 75 and then have ten years retirement. So what's the problem with two little fixes -- 1) raise retirement age to 67, and 2) move the contribution cap to $100,000 immediately, then adjust to inflation every subsequent year.

Comments?