Retirement Age Protests Spark Fury in France
Mass protests in France against raising the retirement age and pension cuts offer a warning to Republicans who have been proposing reforms to Social Security. Raising the retirement age is effectively a cut to benefits, and the average retiree would lose out on three to four years in benefits under Republicans’ plan, amounting to a minimum of $65,000. There are many ideas about saving Social Security that don’t involve raising the retirement age, including extracting more Social Security taxes from payroll and making people who earn over $250,000 pay Social Security taxes on their income.