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Changing Social Security to a flat benefit for all would put both workers and the poor at risk

Social Security is this country’s most important and most popular program. However, changes will be needed soon, as the program will not be able to pay full benefits once the retirement trust fund is depleted in a few years.

While many options have been suggested to solve the financing problem within Social Security’s current structure, a major report and two books (“The Real Retirement Crisis” from the American Enterprise Institute and the Cato Institute’s “Reimagining Social Security”) have suggested radically changing the program. While the details differ, all three proposals would move Social Security from a wage-replacement program to one that provides a flat benefit to all, aimed at reducing poverty.