Nick Smith said "Right now under the legislation as we amended it in 1983, it started at 2 percent per year increase after age 65, then it went to 4. This year it is going to 6 percent. The amendment that I have proposed would move it up to 8 percent, which is the actuarially sound amount. If you are going to live an average life span, then it is reasonable if you put off taking benefits and continue working, continuing paying the FICA tax to support Social Security, it ends up ultimately being somewhat of an advantage and so moving that 8 percent per year up until you are age 70 is a reasonable step to take." @ PoliticalQuotes.com

On the recordMarch 1, 2000

Right now under the legislation as we amended it in 1983, it started at 2 percent per year increase after age 65, then it went to 4. This year it is going to 6 percent. The amendment that I have proposed would move it up to 8 percent, which is the actuarially sound amount. If you are going to live an average life span, then it is reasonable if you put off taking benefits and continue working, continuing paying the FICA tax to support Social Security, it ends up ultimately being somewhat of an advantage and so moving that 8 percent per year up until you are age 70 is a reasonable step to take.

Said by

Nick Smith

Republican · Michigan

Source

govinfo.gov

Editor's note · Context

Discussing proposed amendments to Social Security benefit increases.

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