As far as I am concerned it is just another attempt to drain the trust fund as fast as possible and make the Lenin Strategy and the urban myths come to fruition.
http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/1983/11/cj3n2-11.pdf
Before anyone gets mad - please read up on the GPO/WEP. It is not true, for example, that someone that paid in for 20 significant earning years loses all SS. All WEP does is attempt to place people in the correct bend point before determining the benefit. Prior to WEP wage cohorts that paid in all their career were receiving less "return on investment" than people who paid in for a short period of time.
https://www.ssa.gov/planners/retire/wep-chart.html
Note the maximum reduction for 20 years of substantial earnings in 2016 is the lesser of $428 and one-half the uncovered pension amount. For thirty years there is no reduction.
Congress critters cannot be expected to oppose this because it is a way to bail out failing state and local pension systems whose taxpayers didn't contribute to SS without using in-state taxes. Not all failing state pensions opted out of SS contributions but some may have diverted the 6+ percent employee contribution to their own pension funds but did not always pay the employer share completely.
http://chicago.suntimes.com/news/ill-supreme-court-strikes-down-rescue-plan-for-2-chicago-pension/
The best short reform opinion paper I know of is the 2003 suggestion paper by Peter Diamond and Peter Orszag, then at Brookings: It describes the unfairness of no reduction and the fairness problem of WEP/GPO reductions and suggests an alternative to both.
http://www.brookings.edu/~/media/research/files/opinions/2003/11/03saving%20diamond/20031103.pdf
Posted by: annaleemtg@yahoo.com
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