Let's Raise Retirement age to 70

[Immanuel]

Most if not all SS recipients receive far more than they paid into it, including compound interest.

I've found it interesting that so many Tea Party people are receiving SS and are beneficiaries of wealth transferance from young to old people.

Where the hell did you come up with that?

Immie

 

[Procrustes Stretched]

Now what?

So the Politicians have squandered all the money and given so much of it away, people will have to live till 70 to get SS Retirement Checks?

These jerks need to also wait till they are 70 to collect any benefits and see how the like it.

We need an Opt Out available for this SS Crap, I think most people could better invest their money the the Government.

In a rare departure from this year's intense political posturing over the soaring budget deficit, House leaders of both parties recently signaled that they are prepared to tackle a leading long-term liability — Social Security — by raising the retirement age.

Both parties mull raising retirement age - Washington Times


.

thank you for posting this crazy rant.

SS crap is all some people are living on -- after having lost a fortune in investing.

people are stupid, and you prove it with every post.

I salute your service.

 

[Procrustes Stretched]

Now what?

So the Politicians have squandered all the money and given so much of it away, people will have to live till 70 to get SS Retirement Checks?

These jerks need to also wait till they are 70 to collect any benefits and see how the like it.
...

btw, and wait until you are 70 years old. We live longer now.

 

[saveliberty]

Most if not all SS recipients receive far more than they paid into it, including compound interest.

I've found it interesting that so many Tea Party people are receiving SS and are beneficiaries of wealth transferance from young to old people.

The ones who exceed the average life expectancy rate maybe. I would guess anyone under that loses. Spouses who didn't work would of course be part of your group too.

 

[PatekPhilippe]

What they need to do is stop stealing the excess money that's left over after paying out benefits!!!!!

 

[KissMy]

If they don't raise the age for new contributors to 70, the system will go bankrupt

They should also encourage personal investment in 401Ks or IRAs so you can retire before 70 if you desire

70 is not that old anymore

So you are ok with taking money from the old folks who paid in for most of their lives. I guess it works in your wealth redistribution pee brain. You probably love taxing people for years promising them health-care 4 years down the road but when the time comes they will say we are going broke so we have to raise rates & lower the quality of care. Re-distributive Socialism is just so awesome!!!

Hey genius,
The "Old folks who paid in for most of their lives" are statistically going to live longer than was expected when they were born. They'll still collect for roughly the same amount of time, longer in some cases. "Re-distributive socialism?" How about "The system will be F**KING bankrupt if you collect 20 years longer than your life expectancy when SS was in its infancy?"

You're really not profound. You think you are, but really you're just doing a lot of yelling, interjected with buzzwords you think hammer your point home.

Hey genius, People worked harder stressing themselves shortening their lives just to pay into this ponzi scheme. Now that Life Expectancy is Worsening for Large Segment of the U.S. Population because this SS burden has harmed their financial situation, you want to make this segment work their way into the grave after they slaved away paying in their SS their entire working life. 8 of the 10 richest congressmen are socialist democrats. They & their privileged few friends are the ones benefiting from these schemes, not the citizens.

 

[hortysir]

How many replies are from "smaller government involvement, no welfare, anti-nanny state" types complaining that they won't get their government hand-out checks???

If you're counting on your government to support you, when you retire, you're shit out of luck.

You're not "paying into" a retirement plan. You're paying to support current recipients.
Your kids and grandkids are going to be tax-fucked so hard there's no way in hell they're going to be able to contribute to your SS welfare check.

I sincerely hope you have a Plan B to SS.

 

[PatekPhilippe]

Any kind of OPT OUT for Social Security will never happen. By doing this the government would effectively be passing a law that cuts off a major source of tax revenue fot their bullshit spending initiatives.

 

[Annie]

Regardless of political philosophy, SSI is unsustainable in its current form. I think people should get out what they've paid in, then means test, for those above 45 years old. For those under, phase it out.

Same with medicare.

 

[Toro]

Most if not all SS recipients receive far more than they paid into it, including compound interest.

I've found it interesting that so many Tea Party people are receiving SS and are beneficiaries of wealth transferance from young to old people.

The ones who exceed the average life expectancy rate maybe. I would guess anyone under that loses. Spouses who didn't work would of course be part of your group too.

I'm talking about the entire population. The last numbers I saw had the typical SS recipient receiving 2x-5x the amount they should receive given their contributions and the compounded interest inferred in the payments.

 

[Immanuel]

Most if not all SS recipients receive far more than they paid into it, including compound interest.

I've found it interesting that so many Tea Party people are receiving SS and are beneficiaries of wealth transferance from young to old people.

The ones who exceed the average life expectancy rate maybe. I would guess anyone under that loses. Spouses who didn't work would of course be part of your group too.

I'm talking about the entire population. The last numbers I saw had the typical SS recipient receiving 2x-5x the amount they should receive given their contributions and the compounded interest inferred in the payments.

I simply do not believe that. Was that something out of the Kerry camp in 2004?

Immie

 

[Toro]

Regardless of political philosophy, SSI is unsustainable in its current form. I think people should get out what they've paid in, then means test, for those above 45 years old. For those under, phase it out.

Same with medicare.

A better way would be to run SS like a real pension fund, like all the states do for their public employees. People should also be encouraged to run their own retirement accounts. Contrary to what some believe, the government generally does a better job running people's retirements than most people. But some people do better and the government would remove liabilities from their books by allowing them to do so.

 

[Toro]

The ones who exceed the average life expectancy rate maybe. I would guess anyone under that loses. Spouses who didn't work would of course be part of your group too.

I'm talking about the entire population. The last numbers I saw had the typical SS recipient receiving 2x-5x the amount they should receive given their contributions and the compounded interest inferred in the payments.

I simply do not believe that. Was that something out of the Kerry camp in 2004?

Immie

No. It is not a political thing. In fact, such statistics are often cited by those wanting to cut SS benefits.

 

[Cuyo]

So you are ok with taking money from the old folks who paid in for most of their lives. I guess it works in your wealth redistribution pee brain. You probably love taxing people for years promising them health-care 4 years down the road but when the time comes they will say we are going broke so we have to raise rates & lower the quality of care. Re-distributive Socialism is just so awesome!!!

Hey genius,
The "Old folks who paid in for most of their lives" are statistically going to live longer than was expected when they were born. They'll still collect for roughly the same amount of time, longer in some cases. "Re-distributive socialism?" How about "The system will be F**KING bankrupt if you collect 20 years longer than your life expectancy when SS was in its infancy?"

You're really not profound. You think you are, but really you're just doing a lot of yelling, interjected with buzzwords you think hammer your point home.

Hey genius, People worked harder stressing themselves shortening their lives just to pay into this ponzi scheme. Now that Life Expectancy is Worsening for Large Segment of the U.S. Population because this SS burden has harmed their financial situation, you want to make this segment work their way into the grave after they slaved away paying in their SS their entire working life. 8 of the 10 richest congressmen are socialist democrats. They & their privileged few friends are the ones benefiting from these schemes, not the citizens.

Nutjob alert.
Just to be fair, I read your article. Not a word about Social Security. Seems the decline according to your article is due primarily to lifestyle related illness, namely lung cancer, COPD, and complications of diabetes. In other words, it's the culture of excess and sickness that we have in this country that's reducing the expectancy.

"Hey, did you hear people are dying younger because they've stressed them out trying to pay FICA taxes?" Riiiiiiiight. Nevermind the 75 years during which Social Security has existed and life expectancy has crept up some 12 years...

Any of you righties wanna get on board with this whackjob? Anyone think work related stress caused by FICA taxes is reducing life expectancy? Rabbi? Where u at?

 

[Rozman]

If they don't raise the age for new contributors to 70, the system will go bankrupt....

If those born 1953,1954 are eligible to retire with full benefits at age 67 or so and those entering the work force now are made aware of the new retirement age of 70 I would not have a problem with that.To change the rules on those of us who were looking to retire around 65 is bullshit.I have a 401k and an IRA but will still need the SS $.......

Oh God I screwed myself....as soon as the Dems see I have money put away in a 401k and an IRA they will find a way to get their hands on it to give to some illegal alien who entered this country and doesn't
have two nickels to rub together.

 

[rightwinger]

If they don't raise the age for new contributors to 70, the system will go bankrupt....

If those born 1953,1954 are eligible to retire with full benefits at age 67 or so and those entering the work force now are made aware of the new retirement age of 70 I would not have a problem with that.To change the rules on those of us who were looking to retire around 65 is bullshit.I have a 401k and an IRA but will still need the SS $.......

Oh God I screwed myself....as soon as the Dems see I have money put away in a 401k and an IRA they will find a way to get their hands on it to give to some illegal alien who entered this country and doesn't
have two nickels to rub together.

When I was born, the life expectancy was 66. It is now 76

The Social Security retirement age has only gone up 2 years in that time. If the Social security system does not start raising the age of retirement...it will go bankrupt.

You do not raise the retirement date for people in their 50s. But for people in their 20s and 30s it is reasonable

 

[Charles_Main]

why can't we just opt out of SS, as if im going to be old and relying on shitty amounts of $ from the gov. let me invest it myself

Because the Liberals can not support all those who didn't pay enough in with out you paying in.

 

[Avatar4321]

why can't we just opt out of SS, as if im going to be old and relying on shitty amounts of $ from the gov. let me invest it myself

That would defeat the purpose of SS. And that purpose is to keep the Elderly dependent on government for their support. If the elderly are dependent on government, then the politicians have an instant scare tactic to get the most voters voting for them.

Actually, it's to let people retire with dignity and not become a burden on everyone else. Sorry, the Smoking Man is not in this one.

How exactly is society giving them a pittance not burdening everyone else?

Our government is supposed to go bankrupt to give the Elderly next to nothing. But that's not a burden?

People shouldn't be retiring from life. We should be moving from stage to stage. God didn't say 6 days you should work and rest on the 7th until you reach the age of 65. Then just sit around and let someone else support you.

Elderly people aren't worthless. Stop treating them like they have no value. And stop trying to make them dependent on politicians to survive. Stop trying to scare them.

When are the Elderly of the nation going to stop letting government abuse them like they do?

 

[Cuyo]

That would defeat the purpose of SS. And that purpose is to keep the Elderly dependent on government for their support. If the elderly are dependent on government, then the politicians have an instant scare tactic to get the most voters voting for them.

Actually, it's to let people retire with dignity and not become a burden on everyone else. Sorry, the Smoking Man is not in this one.

How exactly is society giving them a pittance not burdening everyone else?

Our government is supposed to go bankrupt to give the Elderly next to nothing. But that's not a burden?

People shouldn't be retiring from life. We should be moving from stage to stage. God didn't say 6 days you should work and rest on the 7th until you reach the age of 65. Then just sit around and let someone else support you.

Elderly people aren't worthless. Stop treating them like they have no value. And stop trying to make them dependent on politicians to survive. Stop trying to scare them.

When are the Elderly of the nation going to stop letting government abuse them like they do?

Once I had a SS recipient work for me, he described himself as "Semi-retired." His benefit was more than $1000 a month. Is that "Next to nothing?" Now, the man was former military and then a truck driver for many years. He'd been paying in his whole working life, and now he'd reached the time to collect.

Ol' Albert wasn't in the greatest health. He had a bad leg. He wasn't the kind of fast mover we depend on. He probably wouldn't ever have applied for such a position, but he was a friend of the landlord and he was interested in what we were doing there. I think he asked for the job as much for something to do as anything else. I couldn't afford to pay him much, since there's a lot he couldn't do; But boy was he thrilled to come in and sweep and mop, run the cage washer, change trash can liners, and wipe down countertops and tables for 9 bucks an hour.

There's an example of SS working. Albert was in his 70s. House was paid for. Drove an old truck which was fine with him. Widowed. If he didn't work at all, he probably could have paid all his bills and groceries with SS. Don't know if he had private savings or not. Assuming he didn't, the $200-$250 a week he made with me could be the reason he bought a new truck, could be money to take his grandkids out to dinner, whatever he chose to do with it. When work became too much, he could scale it back or cut it out entirely, without the fear that he'd be left with zero income and have to mooch off his family.

The purpose of raising the age is to make sure that safety cushion can continue to exist for people in their declining years. Doesn't mean they hafta retire, but particularly in physical jobs like the ones I have to offer, your earning power declines in these years. I know you feel everyone should have their own savings, but sometimes they don't, whether it's due to illness, injury, plain old irresponsibility or any other reason. When a person reaches 70 and has nothing, his family has nothing, and he can't work, what do you propose we do with this person?

 

[Old Rocks]

Good points, all, Cuyo. And for many, the rent, utilities, ect. more than eat up their SS check.

Many older people can work at jobs that are not that physical. And are good in those jobs, as dependable as their health will let them be. Problem now is that with a very sick economy, these are also the entrance level jobs for many out of high school. So we have the young competeing with the old for low level jobs. A bad situation for all.