Haley: Raise the Retirement Age

[BluesLegend]

and what about the people who work outside doing physical jobs that break your body down that cant go much further than 62-65?....

Dumb lazy fat ass politicians are oblivious to this fact.

 

[WorldWatcher]

Isn't that what he promised with health care?

Why...

.... .... .... I think you might be right.

WW

 

[BluesLegend]

I'll save these programs. Give me back all of MY money paid in plus interest and I'll opt out, deal?

 

[Ralph Norton]

I meant without work.
I enjoy my life but I would really enjoy it if I was retired.

3 years, 1 month and 20 days to go for me.
If I get diagnosed with some horrible disease in the meantime I'm going to be pissed.

 

[Harry Dresden]

That’s a lot people too. Of course, it doesn’t include fucking politicians.

of course not....when the weathers bad they are on the inside sitting on their fat asses watching the people on the outside in that weather saying why cant that guy work until he is 70?.....whats so special about him?....

 

[Harry Dresden]

No. I think the family would have forced him to take disability.

WW

and disability aint that easy to get....you may have to fight for it for a few years....

 

[MarcATL]

Like I said Republicans Are, And Have Been, Attacking Social Security

 

[ReinyDays]

#1 Trust fund projection in the 2022 report are 77% of benefits.

#2 Average Life Expectancy (ALE) is longer by about 20 years from 1935, but the biggest influence on this is infant and child mortality rates dropping. Infants and children don't pay into SS, but they do impact ALE. The true measure is months drawing benefits and yes those numbers are up, but only about (on average) 3.5 years.

#3 Thanks for the advise on saving. Been practicing that for along, in retirement my wife and I will have 8 different revenue streams (of which SS counts as 2). No one stream is much, but combined will do just fine as we won't be solely reliant on SS.

WW

Thank you for the corrections to the facts ... my information may be a little dated ... [shrugs shoulders] ... haven't had any earned income since 1992, according to the SS report I have ... but still, 77% is better than moving in with the kids ... SS is poverty, and nothing more ...

GREAT point about infant and childhood deaths ... it's easy to forget that half of all humans who have ever lived died as children ... we have vaccinations now ... but that's whats stressing the SS system ... baby bombers are retiring in droves, and we can't count on half of them dying before they reach retirement age ... AND our families are getting smaller, not enough new workers to pay out the public pensions of older people ...

Republicans have to cut benefits if they don't want to raise taxes ... any other alternative has to come from the House of Representatives ... and they've been on vacation for decades now ...

 

[WorldWatcher]

GREAT point about infant and childhood deaths ... it's easy to forget that half of all humans who have ever lived died as children ... we have vaccinations now ... but that's whats stressing the SS system ... baby bombers are retiring in droves, and we can't count on half of them dying before they reach retirement age ... AND our families are getting smaller, not enough new workers to pay out the public pensions of older people ...

Baby Boomers (of which I'm in the tail end) are like a bulge of a pigeon passing through the gullet of a snake. We are entering the final years of boomers entering SS since for those of us near the end of the scale had retirement age was already raised from 65 to 67. Once the bulge is past, things will begin to stabilize again. However the problem is the bulge is still going to last 20-30 years.

WW

 

[initforme]

I meant without work.
I enjoy my life but I would really enjoy it if I was retired.

Yes retirement means getting your life back. Some loser rotten employer doesn't get to call the shots or control every aspect of your life anymore. I've been retired for over 22 years now. Don't miss the ugly world of work at all.

 

[candycorn]

I don't know how much she is considering raising it so it's hard to say if I agree with her or not....but the age should be raised.

 

[jackflash]

Former South Carolina Gov. Nikki Haley calls to change retirement age during presidential campaign​

""The first thing you do is you change the retirement age of the young people coming up so that we can try and have some sort of system for them," Haley said at a town hall in Council Bluffs, Iowa."

<<SNIP>>

""Joe Biden now is basically saying the only way to deal with entitlements is to raise taxes. He doesn't care that it runs out in five or 10 years, he's not going to be there anymore," Haley said."


The first quote advocates cutting benefit payouts by raising the retirement age for young folks. The second quote indicates this is done to impact Social Security in 5 or 10 years.

So if she raises the retirement age for younger workers, say those 50 and below, to 70. Then the first year this impact is 20 years AFTER the change. So that would be 70-50 which is 20 years, and assume the law is changed in 2025 after the election. 20 years after 2025 is 2045.

However the financial problems for Social Security are due to hit 10 years prior to the earliest impact which is 2035 (based on the 2022 Trust Fund Report).

Reducing benefits by raising retirement age does not impact the current shortfall.

It's pretty simple when boiled down to basic terms. Benefits Paid Out = Revenues + Trust Interest + Trust Principle. If by 2035 the Trust is depleted then only revenues support benefits paid. To fix the problem by 2035 either age must be raised immediately, revenues increased, or both.

WW

Both Social Insecurity & Medifraud are in a terminal condition. The military budget could be slashed by 25% by reducing both material & personnel, mothballing the carriers plus cut back on weapon research projects. That would end U.S. involvement with the "World Cop Program" meaning we could close all bases that are not located upon sovereign U.S. soil. Future cuts to the military could be made as needed. Unfortunately that would NOT stop the D.C. gang from debt spending like a drunken sailor. Until the RNC/DNC profe$$ional politician$ are eradicated from office & replaced with Constitutionally based Representatives of & for the people not much if anything can be expected in a positive fashion. The tragedy is no hostile had to sink America as the American constituency sunk their own country with g'ment idolatry(social programs & resultant debt spending).

 

[gipper]

Like I said Republicans Are, And Have Been, Attacking Social Security

Just as has Jim Crow Joe.

 

[easyt65]

Former South Carolina Gov. Nikki Haley calls to change retirement age during presidential campaign​

""The first thing you do is you change the retirement age of the young people coming up so that we can try and have some sort of system for them," Haley said at a town hall in Council Bluffs, Iowa."

<<SNIP>>

""Joe Biden now is basically saying the only way to deal with entitlements is to raise taxes. He doesn't care that it runs out in five or 10 years, he's not going to be there anymore," Haley said."


The first quote advocates cutting benefit payouts by raising the retirement age for young folks. The second quote indicates this is done to impact Social Security in 5 or 10 years.

So if she raises the retirement age for younger workers, say those 50 and below, to 70. Then the first year this impact is 20 years AFTER the change. So that would be 70-50 which is 20 years, and assume the law is changed in 2025 after the election. 20 years after 2025 is 2045.

However the financial problems for Social Security are due to hit 10 years prior to the earliest impact which is 2035 (based on the 2022 Trust Fund Report).

Reducing benefits by raising retirement age does not impact the current shortfall.

It's pretty simple when boiled down to basic terms. Benefits Paid Out = Revenues + Trust Interest + Trust Principle. If by 2035 the Trust is depleted then only revenues support benefits paid. To fix the problem by 2035 either age must be raised immediately, revenues increased, or both.

WW

This is ploy to save Social Security boils down to this:

By raising the retirement age we hope you die before you can collect any of (or much of) your money you had taken from you your entire working life by the govt.

 

[JackOfNoTrades]

I don't know how much she is considering raising it so it's hard to say if I agree with her or not....but the age should be raised.

Your other choice is to raise the amount taken out..by both consumers and the corporations who employ them.
Which is what should have been done years ago.

 

[White 6]

Work your whole life and pay into a system you were FORCED to pay in to, only to enjoy yourself for a couple years.
What a load of bullshit.

I plan to get 30 plus years of benefits after contributing for 46 years. Retire as early as legal, if you expect to recoup.

 

[candycorn]

Your other choice is to raise the amount taken out..by both consumers and the corporations who employ them.
Which is what should have been done years ago.

Well, there are all sorts of other choices on how to better care for the aging both financially, spiritually, and medically if we could just grow up and accept some truths. The 401k system that replaced pensions is crap. We need to make retirement accounts portable so when you move from job to job, you don't have different systems that are not congruent. We need to get rid of the cap on SS contributions on the ultra wealthy. We need to also accept that folks don't cease to be able to contribute at 65.

I support raising the age. How much and in every situation? I don't know.

 

[WorldWatcher]

Unfortunately that would NOT stop the D.C. gang from debt spending like a drunken sailor.

Excuse me.

..... ..... ..... Being retired U.S. Navy.

..... ..... ..... ..... ..... ..... I take offense at that reference, even though I was a drunken sailor more times than I'd like to admit.

..... ..... ..... ..... ..... ..... ..... ..... ..... Drunken sailors ain't got nothing on politicians.

WW

 

[Jessica-stormlover]

Work until death is the motto of the republican party! The rich needs more slaves and to use you until you fall over. What a sick message to send to voters.

It should be lowered and people should receive more to keep up with inflation. The rich need to be taxed. I am sorry but that is the truth. I am sorry that you want to be their slave.

 

[JackOfNoTrades]

Well, there are all sorts of other choices on how to better care for the aging both financially, spiritually, and medically if we could just grow up and accept some truths. The 401k system that replaced pensions is crap. We need to make retirement accounts portable so when you move from job to job, you don't have different systems that are not congruent. We need to get rid of the cap on SS contributions on the ultra wealthy. We need to also accept that folks don't cease to be able to contribute at 65.

I support raising the age. How much and in every situation? I don't know.

All good suggestions. However, there is a part of me that says, "you've paid into it all your working life", you should be able to retire in the 60-65 age range to enjoy your life if you so choose. If you still work after 65..sure, you contribute.
Also, there is just a plain old reticence to raise taxes..like on just about anything that doesn't involve the largest pool of taxpayers in this country. We keep going back to the same well time after time.