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via New Model Minority on 11/27/10
Under current law, a medium-income worker (someone making about $43,000 a year) is projected to get about $15,000 a year in Social Security benefits in 2050. Under the Simpson-Bowles plan, he or she will get about $12,700. That's not nothing, but it's not much. Social Security is not currently a generous program—it's actually among the least generous offered by any developed nation—and in making it less generous, we raise the question of what seniors with insufficient retirement savings are supposed to do.
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