RE: Try this plan. The numbers work out.

[william burrows <bill_burrows@amecom.com>]

Your plan is bold, but ignores the issue of fairness based on
contributions (taxes) paid. This is the main inequity of the
system, that previous retirees paid so little for so much. I will
not be stuck with the tab for their theft. Why not start by
cutting all current and futur retirees to a fair annuity based
return of the value of their contributions at retirement with
no COLA (just as does an insurance plan). Most people under age
46 will never accept a total loss of our huge investment.
How about returning its value by tax credits over the next say
10 years? How about a lien on the estates of those who have taken
more in benfit than was "bought" by the annuity  value of their
payments? Without recognizing the huge amount of money paid into
the system by today's workers, relative to the tiny payments of
earlier generations, the plan will never work.