Raising the Retirement Age

Charles Krauthammer (Op-Ed Page, June 14) wants to solve the budget deficit by raising the retirement age to 71 for all those now under age 43. He sees this as a way for baby boomers, who he says “are living well beyond their means,” to pay in the future for the debts they are incurring now.

What is specious about Krauthammer’s argument is that it is not the baby boomers who are living beyond their means, but those over age 43 who are the prime beneficiaries of federal largess. Consider that along with defense, the largest federal programs, Medicare and Social Security, directly benefit current retirees and not baby boomers. Consider that while retiree programs continue to grow, programs such as education, job training, national health insurance, and child care, programs which would benefit people of all ages, have been mercilessly cut or vetoed. Consider that government investment in bridges and highways has become woefully inadequate as Medicare coverage has been extended.

At the same time, as recent Times articles have pointed out, real income for all but the wealthiest 5% has decreased over the last 15 years while the average work week has increased and federal taxes, including Social Security, have reached an all time high. It seems that it is those over age 43 who are living well beyond the ability of younger workers to support their rapacious appetites.

What Krauthammer proposes is an intergenerational transfer of wealth of historic proportions. He would like the baby-boom generation to forgo its retirement benefits to finance the retirement of its elders. Furthermore, under the aegis of an equitable reform, he would propose to use the regressive Social Security tax, which disproportionately affects younger, lower income taxpayers, to replace the progressive income tax that, at least until Reagan, forces older, more wealthy citizens to share part of the tax burden.

If government retirement programs are to be reduced all should share equally in the burden. The young should not be asked to make all the sacrifices while the elderly reap all the benefits.

CHARLES J. SCHWARTZ

Venice