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Today, Citizens for a Sound Economy (CSE) congratulated the Congress for pledging to repeal the Social Security earnings limit on our nation's seniors.
Liz Tobias, Director of Tax & Budget Policy, made the following statement:
"America's seniors are living longer and healthier lives. Many of them want to work in their golden years, but Uncle Sam is standing in the way with a tax barrier. This is crazy.
"Particularly when unemployment rates are at historic lows and the biggest challenge employers face is the shortage of experienced and skilled workers. This challenge isn't going away. As babyboomers begin retiring in 2010, the pool of workers will continue to shrink. Given this demographic certainty, why would we penalize our productive, experienced seniors.
"Repealing the Social Security earnings limit would serve as an incentive for hard working seniors to reenter the workplace and make a positive contribution to our economy.
"The Social Security earnings limit is yet another unfair component of our current tax code. This is why we should 'Scrap the Code' and replace it with a tax system that is simple, low, fair and honest. Repealing the Social Security earnings limit moves us in the right direction."