The two key planks to Rubio’s Social Security proposal are a gradual increase in the retirement age, tied to increases in American life expectancy, and a change to the growth of benefits. He wants middle- and high-income Americans to see their benefits grow more slowly and the poor to see their benefits grow more quickly. He also would eliminate payroll taxes for workers over the age of 65 and eliminate an antiquated reduction in benefits for beneficiaries who opt into the program early but keep working.
Undergirding these ideas is a positive conservative vision for Social Security. Explaining that it has served his family well, Rubio argued Social Security ought to be a strong, reliable safety net that encourages, not discourages, work and economic prosperity. And with millions of seniors still living in poverty, the system ought to be more generous for those who are still slipping through the cracks.
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