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Well hell, just make people work until their too old to enjoy any Social Security...and while you're at it they can take all the jobs from the youngens because THEY HAVE to work until they drop dead..
what a joke Social Securtiy has become, leave it to THE GUBERMENT to screw that up..can't wait for your ObamaCare to kick in...whoohoo they say we will live to 100 because of it...might take a year to see a doctor so you might make it..
What negative effects are there to raising the retirement age, G? Are there any to consider?
guess i wasn't clear. I was thinking that we could just add a tier. full at 70, maybe 75% at 65, and say 65% at whatever minimum age is now.perhaps starting payoff at 70 wouldn't be ideal, but maybe we could have a tiered system where full benefits aren't paid until then.Yes, it's insurance, not an entitlement.
And yes, the premiums are forced on us.
Medicare and SS are going to bankrupt all of us. The premiums are not covering the outlays.
There are two solutions.
One is your way. Eliminate them. That is NOT going to happen. We have to be realistic.
The realistic solution is to raise the eligibility age to at least 70.
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That is what we have now. We say the "retirement age is 65", but you can actually receive reduced Social Security benefits prior to 65.
The tier would just be moved upward so the full benefit kicks in at 70.
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This is the second in my The Way Forward series. You can find the first of the series here: The Way Forward: End Tax Expenditures
We see on page 38 of the 1930 US census that 5.5 percent of the US population was over the age of 65 in 1930. 3.2 percent of the population was over 70.
Five years later, the Social Security Act of 1935 was enacted.
Thirty years after that, the Social Security Act of 1965 added government sponsored health insurance (Medicare) to the retirement benefits of our seniors. This is also when Medicaid was created, but thats a separate subject.
We see on page 6 in the US Census for that period that our national health had increased to the point that the ratio of people over 65 had crept up to 9.5 percent by then.
In todays Census, we find that the over 65 bunch has exploded to over 13 percent of the population. We have literally more than doubled the senior entitlement load for Social Security since 1935!
Plus, we layered on another extremely expensive entitlement program on top of that load in 1965.
6 percent of our population is now living beyond the age of 75.
Life expectancy in 1935 was 61.7 years. Today, it is 78.7 years.
If you went to work at 18 and retire at 65, then you worked for 47 years.
In 1935, you may not have lived long enough to even collect Social Security. As we saw above, only 6 percent of the population lived long enough to collect even one cent.
Today, you retire after 47 years, and 13 percent are living long enough to collect. And 6 percent are living long enough to collect for at least 13 years.
The idea of continuing this way is beyond ridiculous.
Raising the retirement age to 70 would back the load down to 9 percent of the population, which is almost on par with 1965.
To get to the 6 percent load of 1935, we would have to raise the retirement age to 75.
When Social Security was enacted, you were not intended to live a long life of retirement on Social Security. Medicare and Social Security were intended as a support, not as a way of life.
We are living longer than our ancestors who gave us Social Security and Medicare. We should be working longer than they did. This is just plain common sense.
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Raise the retirement age for who? Unions have sucessfully gotten retirement benefits paid starting at 50. The wealthy seldom if ever retire. Mitt Romney just started a new job at age 65. Larry Hagman worked up to the day he died at 81. Clint Eastwood is still working at 82. Those who are on welfare might have retired at 20. Steve Jobs worked even as he was dying. Raising the retireme..nt age can only be on the poor. How fair is that?
Good job! Steal Americans retirement years. Fuck you.
Sorry fucking government wants to make sure your dead before you ever get a dime of all the money they steal from your pay check every week ,but those fucks are set for life, what shit hole of Country we have become......
guess i wasn't clear. I was thinking that we could just add a tier. full at 70, maybe 75% at 65, and say 65% at whatever minimum age is now.perhaps starting payoff at 70 wouldn't be ideal, but maybe we could have a tiered system where full benefits aren't paid until then.
That is what we have now. We say the "retirement age is 65", but you can actually receive reduced Social Security benefits prior to 65.
The tier would just be moved upward so the full benefit kicks in at 70.
.
By greater than a two-to-one margin, voters overwhelmingly oppose increasing the Medicare retirement age from 65 to 67, according to a new Washington Post poll.
On the other hand, 60 percent of voters support raising taxes on the rich.
You people can blow me...
When I started working back in 1969 the retirement age was 65.
Now for full benefits it's 66.
So when I get close to 66 it will be raised to 68.
When I get close to 68 it will then be moved to 70....
Anyone entering the work force now if they can get a job that is should have the retirement age set to 70.Those who are a few years away should get full benefits at 66 as it is set for now.
You people can blow me...
When I started working back in 1969 the retirement age was 65.
Now for full benefits it's 66.
So when I get close to 66 it will be raised to 68.
When I get close to 68 it will then be moved to 70....
Anyone entering the work force now if they can get a job that is should have the retirement age set to 70.Those who are a few years away should get full benefits at 66 as it is set for now.
What negative effects are there to raising the retirement age, G? Are there any to consider?
You have to work longer.
But you are living longer, so it is only fair that you should have to work longer to support yourself.
Raising the retirement age also means that the labor pool will be increased by 12 million people. That's how many 65-70 year olds there are right now. And that is a challenge to keep the economy growing enough to support that.
However, that is offset by the fact that more working people is good for the economy as they are still contributing instead of drawing from the treasury, reducing the tax burden.
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If a doctor or lawyer works till 70 it's no big deal. If a laborer has to work till 70 it's an obvious problem.
