Houston Chronicle

02/09/05

The U.S. retirement system can be stabilized through a series of smaller fixes and does not need a major overhaul that would include private accounts, the nation's largest lobby group for the elderly said today. The AARP, formerly known as the American Association for Retired Persons, said the amount of wages that can be taxed for Social Security should be raised from $90,000 to $140,000. The change could be phased in over about 10 years and would cut the projected shortfall by 43 percent...

http://tinyurl.com/5us68



Informant: Thomas L. Knapp