Amory Houghton: “It is sort of too bad that certain people on the other side take a partisan view of this thing. It is not partisan; it…”

“It is sort of too bad that certain people on the other side take a partisan view of this thing. It is not partisan; it is bipartisan. It makes sense. The timing is right. There is overwhelming support for this. When I started to work in the early 1950s, 47 percent of the people over 65 were working. Today, only 17 percent. That is not very good. I always think as the speed of light and communication and data processing is sort of inevitable, so is the fact that people are living longer. I have a mother who is 99 years old, born in 1900. When she was born, the actual actuarial age of women was about 47. That was the life span. Today, it is in the 70s. Tremendous difference. We need able people. Warren Buffett of Berkshire Hathaway has a lady over 90 years old working in his company. When companies get somebody good, they want to hold on to them. And people who work longer, they live longer, they feel healthy and want to make a contribution. So anything standing in the way, which is this double taxation of their Social Security benefits, is wrong and is not fair and it will be scrapped, and should be scrapped, if H.R. 5 goes through.”