‘No one in the US should be retiring at 65’: Ben Shapiro said Social Security was not designed to provide retirement benefits for 20+ years

[Concerned American]

I do not consider someone who is 62 to be a "young person". How fucking old are you?

You don't start investing for retirement at 62 unless you are a moron. I guess you removed all doubt.

 

[Couchpotato]

If you want to retire at 65, that is your business and your right. The promise of Social Security and retiring has been there long before Ben Shapiro's father was a little wiggly sperm swimming around looking for a home.
If you've paid into it your whole life (let's say 40 working years), then it is your right to be able to pull that money back out for the remainder of your existence on this planet.

1) Remove the wage base limit.
2) Reinstate the tax on earners above $400K (has that been done yet?)

You'd solve 75% of your financing problems right there.

The myth that SS is something you "pay into" and are drawing on some account is beyond ludicrous. People started drawing SS checks right after they passed the bill. Those people never "paid in". If it were as you said there would be a limit based on how much you paid in. SS was nothing more than another tax packaged to look like not a tax.

 

[Couchpotato]

Some people work to live, others live to work

Most actually look forward to weekends, hate working late and look forward to retirement.

People who have lives outside of work

cool story why should society have to fund your hobbies or retirement?

 

[leftwinger]

The solution to the SS problem is to make EVERY wage earner in the country to pay a smaller percentage of their earnings into the fund. That would include all of the earnings from a couple dollars to millions with no caps. No disbursements to anyone who has not paid into the fund. That fund would be self-sustaining, indeed rolling in cash.

Supposedly that is exactly what happens? You pay 12% (total? of every income dollar earned. You get back based on what you paid in?

The Social Security tax rate that employees and employers each pay is 6.2% of employee compensation, for a total of 12.4%. Those who are self-employed are liable for the full

 

[leftwinger]

You're free to prepare for, and retire whenever you like. The question is, do we expect the government to begin giving you money to do so, long before your life expectancy is up?

Age 62 is the earliest they will pay you reduced. For longer. Takes about 13 yrs to make up the less you recieve.

 

[Harpy Eagle]

The myth that SS is something you "pay into" and are drawing on some account is beyond ludicrous.

Yet what you get paid is based upon how much you pay into it.

 

[leftwinger]

Ifs and buts. If he invested it and therein lies the rub. The majority of young people will not bypass their instant gratifications of Xboxes, new phones, the fanciest cars and clothes to invest that money. If they had that discipline, you would be right, but they don't. The result would be a majority of people that are suddenly unable to support themselves (ant/grasshopper analogy) and then demand that society support them. So the ants would end up supporting them--net gain from the current system--ZERO.

so its a forced 401K but Upchuck and Piglousy manage your funds. Ugh!

 

[Harpy Eagle]

cool story why should society have to fund your hobbies or retirement?

They do not have to, they just have to give me what I am owed for my 50 years of paying for others.

 

[DigitalDrifter]

I think anyone that is relying on SS to be their retirement plan is a fricking idiot.

I do as well, unfortunately the perception of millions of Americans is, that it 'is' a retirement plan.

 

[Couchpotato]

Yet what you get paid is based upon how much you pay into it.

No you dont. There's no limit to how much you can draw out. The only thing that's based on your contribution is the amount you get paid per month. You could get paid 30 times what you paid in and it's fine. That's not drawing on an account. That' just welfare called something else.

 

[rightwinger]

cool story why should society have to fund your hobbies or retirement?

?

 

[leftwinger]

Sure. If you work hard, invest and can afford to retire at 30 have at it. But you dont get to do so on the backs of the yonger citizens in the country which is the point.

We need to stop calling SS a retirement plan and call it what it is. Old people welfare. If you do that, we can stop giving it to people who don't need it. Elon Musk will draw a SS check as will Bezos etc. Pretty sure they dont need the money.

I don’t think you are forced to sign up? Maybe at age 70? But you are forced to take 401K withdrawels at age 70. They will do it for you to get the TAX.

 

[Harpy Eagle]

I do as well, unfortunately the perception of millions of Americans is, that it 'is' a retirement plan.

We are not a real bright country, just look at the two choices we gave ourselves for POTUS

 

[Couchpotato]

They do not have to, they just have to give me what I am owed for my 50 years of paying for others.

Oh no. Remember those people paid in so they were "drawing on their payment". You arent "owed" anything. You want to be paid to sit on your ass but you arent owed it.

 

[Couchpotato]

I don’t think you are forced to sign up? Maybe at age 70? But you are forced to take 401K withdrawels at age 70. They will do it for you to get the TAX.

Ummm It's wildly illegal not to pay into SS. They will definitely put you in jail for that. You dent have take the payments I don't think but there's nothing stopping them legally is the point.

 

[MisterBeale]

'Live free and die?' The sad state of U.S. life expectancy​

https://www.npr.org/sections/health-shots/2023/03/25/1164819944/live-free-and-die-the-sad-state-of-u-s-life-expectancy

 

[leftwinger]

No you dont. There's no limit to how much you can draw out. The only thing that's based on your contribution is the amount you get paid per month. You could get paid 30 times what you paid in and it's fine. That's not drawing on an account. That' just welfare called something else.

if you don’t pay in much you get a small paycheck each month. Maybe there is a min? $500/mo?

max was ~ $3700?

 

[WorldWatcher]

It won't be long before it is raised to 67, I certainly see this coming in the near future, but I don't think any of us posting here will be alive when it is raised to 70.

If there is any chance of insolvency, then rich assholes can pay into it for another $80,000 or so of their earnings.

Let's see Republicans raise that bar.

Ummm...

Full SS retirement age of 67 was raised to that level in - IIRC - 1983.

WW

 

[Harpy Eagle]

Oh no. Remember those people paid in so they were "drawing on their payment". You arent "owed" anything. You want to be paid to sit on your ass but you arent owed it.

Well, yes I am. I am owed it as that was the agreement when the program was create and the right to take money directly from my paycheck was created.

 

[WEATHER53]

Shapiro is a marshmallow chair sitter.
Blue collar at 65 are plenty wore out. They are just no longer almost dead. When you pay into SS for 40 years your monies should have doubled or tripled and it’s designed for as long as you live