Andrew Biggs now a "scholar" with the American Enterprise Institute testified to the Senate finance committee December 17, 2013 that the retirement age should be raised to 70.This is a bad idea. He ridiculed older workers saying the most serious health threat they face is carpal tunnel syndrome. The American enterprise institute is a big business funded think tank.Unfortunately 25% of workers over age 58 still perform jobs involving physical labor. Raising the retirement age is a suggestion that is quickly provided as a solution for entitlement reform however has many implications including an increase in the number of workers who are disabled but not eligible for early retirement benefits.These workers would then apply for disability benefits The better solution would be to remove the earnings cap on wages subject to social security taxation just as there is no earnings cap on wages subject to medicare taxes.
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