Let's Raise Retirement age to 70

[HUGGY]

Somebody wanna steal a couple o hundred thou from Huggy? Somebody thinks we are stupid and weak? Somebody wanna go bye-bye.

 

[midcan5]

I once replaced a roof and have to admit that - and maybe mining - have to be the most strenuous jobs on earth. I had none of the power hammers of today. I cannot imagine most men or women doing that work constantly into their sixties. But when shooting your mouth off, as most congressmen do, is all you do, you can work or is that steal till you croak. So 70 seems a bit old to me. Plus the young need work, and with outsourcing and technology changes what will our children do? Move to China or India?

Someone suggested we give all families over 60 a million to retire, and we'll have jobs and demand. Interesting idea.

One man's retirement math: Social Security wins / The Christian Science Monitor - CSMonitor.com

"For 45 years, the defense-industry analyst paid into the system until his retirement in 1994. But with all the recent hoopla over reform, Mr. Logue, a Massachusetts Institute of Technology graduate, decided to go back and check his own records. Would he have done better investing his money than the bureaucrats at the Social Security Administration?"

 

[Old Rocks]

There are about 20 other millwrights that I have worked with long enough to form freindships such that we keep tabs on each other. Four died of cancer before they were 65. Ten or eleven backs were bad enough before they were 65 that they got SS disability.Three, and I am one of those, actually worked past 65.

For people with desk jobs, or jobs with minimal physical demands, telling those with very physical jobs, that they have to work until they are 70, is insanity.

Yes, the SS system was not designed for a society where people live many years past retirement age. So, let's redesign the system with that in mind.

 

[Gremlin-USA]

ARe we forgetting who was the first to start this shit? It was you heartless bastards...


John Boehner: Raise Retirement Age To 70; Wall Street Reform Is Like 'Killing An Ant With A Nuclear Weapon'

Zona, for once I agree, Boehner is an ass to bring up something like this!

To me it does not matter what Party a Politician is when they screw with me they will get called out.



.

 

[editec]

Let's Raise Retirement age to 70

They're working on it.

 

[rightwinger]

Let's Raise Retirement age to 70

They're working on it.

Its only 3 more years and will only be applied to younger workers entering the system. It was originally 65 at a time life ecpectancy was 63, Now life expectancy is near 80 and retirement age is 67

 

[editec]

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 desiire

70 is not that old anymore

How about getting rid of the income and capital gain taxes altogether and implementing a national sales tax (not VAT - just end user sales tax) instead?

That discourages spending.

Our current system punishes savings and investing.

Yes it does.

That is the problem with taxing interest on savings and profits from investing.

If we really want to encourage economic growth and self-sufficient retirement, then the tax system needs to be reformed, dramatically.

Yup.

And we need to do that without also breaking the back of the government by forgetting that we still have to pay the bills that come from HAVING a civil society.

So it is easy to describe the problems of the system we have now, but it is very hard to find the way to make our taxation systems work as you and I and pretty much everybody on earth would LIKE them to work.

Every tax law creates winners and losers.

Depending on your economic circumstance you'll be for a system that rewards you, and against any system that makes you pay.

The more money you have (or dream you'll have someday) they more likely you are to think FLAT taxes are FAIR taxes.

It's a rather simplictic notion of the meaning of the word FAIR, though, isn't it?

A flat tax WOULD BE a fair system that I would support 100% if everybody already had the SAME AMOUNT OF MONEY.

They don't.

Obviously.

 

[FireFly]

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 desiire

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 healthcare 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!!!

 

[Douger]

Why on earth does anyone want to retire?

Ditto.
I love what I do..................well.......it aint much.

 

[blu]

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

 

[Immanuel]

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 they want your tax dollars. They want you to die BEFORE you reach retirement age. They don't want you to collect a dime of your SS, they simply want your tax dollars. If you live until a month and a half before you are eligible to start collecting benefits that is fine with them, but you will "contribute" your tax dollars until then.

They know that the vast majority of people do not come close to collecting what was taxed from them over their lifetimes not to mention the earnings on those dollars. They are not going to let you "opt" out.

Immie

 

[Avatar4321]

Why on earth does anyone want to retire?

lol....only a youngin like yourself would think that...i'm been 'working' a year or two more than you and, not that i think about retirement everyday, i see the fat cats golfing, taking vacations....

are you telling me you wouldn't want that?

I'd rather sit around reading, learning, talking with people. But then I do that with work anyway.

I like working. I'd go crazy with out some sort of work. And I just don't think practicing my Golf swing is going to make me feel very fulfilled.

 

[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.

 

[FireFly]

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

Bush got serious pushback for suggesting the people control a small portion of their SS retirement money. The dems want to take over everyones 401K & mix it into the general fund.

Making your own decisions is only for free people. You do realize you live in the USA right? You do know that right?

 

[Bern80]

Irresponsible decisions? Lordy, lordy. After the last admins decisions concerning taxes and war, you call our President's decisions irresponsible?

I guess I really need not chime in. I am 66 and already collecting SS. And still working full time.

Make the 6.2% that I pay be paid on all income, right up to Bill Gates and Warren Buffet, and the SS is solvent far into the future, and those that have physically demanding jobs can retire at 65 if they like.

You didn't read your last social security statement did you. Maybe 'far in to the future' is relative for someone who's 66 years old.

 

[Cuyo]

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 desiire

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 healthcare 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.

 

[Cuyo]

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.

 

[Toro]

This is a good idea. They will raise it more in the future. Doing so wipes out trillions of future liabilities.

 

[saveliberty]

I don't think you have to raise the retirement age to 70. Most people I see have too big of a debt load to retire before then anyways. The government wins when you use credit. They get to postpone your retirement and heat up the economy too.

 

[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.