Re “A path to fixing Social Security” (July 12): The U-T editorial was correct in noting that several administrations were willing to kick the can down the road, rather than deal with the impending insolvency of the Social Security reserves.
We could have instituted a revised Social Security formula a few decades ago. However, changing the Social Security formula to a means-testing base, and applying it immediately to all existing Social Security recipients, is a frightening idea. It breaks a promise to all of the hard-working Americans who were continually instructed to design a plan for retirement that included the full Social Security payout.
If means-testing were to be applied (and I don’t favor it), it should only apply to people who are new contributors to the fund. To apply such a change to the existing insured is not only the breaking of a sacred covenant, it will also demolish the budgets of most middle-income retirees.
— Harvey Levine, Rancho Bernardo