Raise the Retirement Age?

?

  • Yes, I would support raising the retirement age.

    Votes: 12 44.4%
  • No, I would not support raising the retirement age.

    Votes: 15 55.6%

  • Total voters
    27
That sounds all rosy and nice but unfortunately that's not how it works.....

The government borrows your Social Security money, they issue a bond in place of said money. Then instead of KEEPING THE MONEY, they spend it thus leaving a GIANT HOLE where that bond used to be...because not only now do they have to pay interest on that bond THEY ARE IN THE HOLE for the face value of that bond.

Now...if you go to treasury direct.gov and look at the definition of "intragovernmental holdings" you will find that this is where the money borrowed from Social Security is placed AS PART OF THE NATIONAL DEBT to the tune of nearly 5 trillion dollars.

That is how all government debt works. All government debt is money that is raised by the government then spent by the government. Or almost all of it, anyways.

All pension funds have some portion of their fund in government debt. They lend their pension monies to the government who spends it. A government pension fund does the exact same thing. It lends to the government who then spends it. The only difference between a regular pension fund and SS in terms of its government holdings is the instrument of debt owed by the government. For a regular pension fund, it holds government bonds. For SS, it holds nontransferable obligations of the federal government.

The biggest problem with SS is that the trust is made up entirely of these types of obligations. I cannot think of another pension plan that is like this. It probably violates ERISA, and no pension fund consultant or professional would ever design such a fund.
 
IMHO we need to make EVERYONE part of SS. The way it is now only about 2/3 of us are in SS. The other 1/3 are in State or Federal pension systems. So the public still pays their pensions if the states run short. IMHO we need to consolidate pension systems to even the playing field. I'm not sure how the contributions match-up with benefits, but I want to do what is necessary to save SS & Medicare. Otherwise we'd have a 2-tier pension system, those with guaranteed benefits, and those who paid in all their lives without.

Can you show me an example of this? That's not how it works here in Florida. Government employees here in the state of Florida pay into the state pension fund and pay SS tax.
 
Hell yeh if the stupid Bastards need Social Security to get by I say raise it to 75 at least. From age 60-62Americans should be forced to work 2 jobs at least.From years 63-70 mandatory 3 jobs.From 70 to 75 they better have 3 w2 forms. From age 75 - 76 back to 2 jobs.Ages 76 and on at least a part time job of 30 hrs per week.Upon death 70% of a persons total worth should go to the government to pay for health care.Whatever the poor bastard has left them goes to the family....That is after the remaining 30 % goes to the family....after a they pay the 50% tax surcharge of course...This is our future my friends after Democrat rule
 
right now, for those born after 1960, it is 67 as retirement age...it is no longer 65, and if you wait until 70, then the SS retirement payment will be much, much higher....

The age could be raised in very small increments for those that are not near retirement age or just entering the work force....as it was raised and changed from 65 to 67 for many of us, midstream.

75 is entirely too old imo, but 70 or 69 could be acceptable.
 
right now, for those born after 1960, it is 67 as retirement age...it is no longer 65, and if you wait until 70, then the SS retirement payment will be much, much higher....

The age could be raised in very small increments for those that are not near retirement age or just entering the work force....as it was raised and changed from 65 to 67 for many of us, midstream.

75 is entirely too old imo, but 70 or 69 could be acceptable.

There are many ways to fix SS & Medicare. If Obama thought UHC was tough I can't wait to see him try SS & Medicare.
Here are a few ideas by actuaries http://www.actuary.org/newsroom/pdf/social_age_aug08.pdf

I hope Obama does "something" to fix SS http://www.aei.org/issue/27704
Even extending SS provides time to adjust in the future, but Medicare is now out of time.
 
every job held by a 66 year old is one less job for an 18 year old
 
Would you support raising the retirement age to collect social security benefits?

If so, to what age?

Well, they offer incentives for hanging on. People are living longer and longer these days.

what is it now? 60? I'd say maybe 65, unless tha'ts where its at. Probably even a couple years can make a difference
 

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