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How should the government change Social Security? The government can fix Social Security by hiking the full retirement age to 70, increasing payroll tax, reducing benefits, and making a higher percentage of payments subject to income tax, an expert says. Policymakers can also implement major reforms, such as investing the Social Security Trust Fund in high-grade corporate bonds and common stocks, another expert says. Increasing the full retirement age to address the looming Social Security crisis is not a good idea, as this would benefit only wealthier and more educated people, who are likely to have longer life spans, a professor says. -- The Wall Street Journal
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