Should the Social Security and Medicare Age be Raised

[Maxdeath]

I think full retirement age should be gradually phased in to 70
If you want to retire at 62 or 65 you can receive reduced benefits and compensate with a robust 401k

If you are in a field where you can’t physically work till 70, you can increase your retirement savings

You do get that most of the service industry does not have 401ks right? Most of them do not pay well enough to even put in enough to create as you say a “robust” 401k.

 

[gipper]

I think full retirement age should be gradually phased in to 70
If you want to retire at 62 or 65 you can receive reduced benefits and compensate with a robust 401k

If you are in a field where you can’t physically work till 70, you can increase your retirement savings

What’s a robust 401k?

 

[rightwinger]

What’s a robust 401k?

Depends on your lifestyle
It is up to you

 

[Gabe Lackmann]

With all of our medical expenses, we simply cannot retire. That pile of cash has slowly disappeared over the last few years.

That sucks.

Man...I don't wanna sit and rot for 15 years.

No way to check out.

Just take me quick when the time comes...

"Honey...where do I put this jar of MMMUUUsssssssTTTTaaaaaa...REEEEEEEE....gghhhh...'THUMP'

 

[rightwinger]

You do get that most of the service industry does not have 401ks right? Most of them do not pay well enough to even put in enough to create as you say a “robust” 401k.

Any employee can set up an individual retirement fund

If you don’t think you can work through your 60s, you need to set money aside

 

[Resnic]

SS and MC were started in 1934 and 1965 respectfully. In 1934 job were much more physical and people’s bodies broke down starting in their 50s. Nowadays go to any company and you see people working well into their 70s… heck even construction are less strenuous on the person’s body. The trend is only going to increase. In addition, medicine is getting better and people are living longer. This reality should be recognized.

In addition it is much easier to take care of oneself and eat better and feel better at older ages.

Our safety nets need to reflect this new reality.

Nope.

Those are all just vauge and rounded off thoughts is all. None of that holds true for the majority of people 65 and up, aside from living longer compared to 1934 that part is true.

But to make it sound like all 80 years can work construction because it's easy is incredibly dumbed down and terribly inaccurate. Those were just all half baked ideas skewed to a certain direction and aren't true for majority of Americans.

And most elderly people working only do so because they have to because everything gets more and more expensive and social security doesn't reflect that for them. So they either work to supplement that or starve. And the others work a job that doesn't pay enough to live on but they do it to keep busy and feel useful.

Those programs are fine the way they are. They just need better funding by stopping other shit like welfare, funded abortion clinics, dedicating statues and other garbage to thug dope head criminals, sending money to other countries that do nothing in return, not sending money to the UN, and so on social security could be funded twice over easily.

Make Americans work and earn what they have and pay their dues by being a productive member of society and when they get old you reward them by helping them out and letting them enjoy the last part of their lives.

 

[gipper]

Depends on your lifestyle
It is up to you

Non answer

 

[ThunderKiss1965]

No, but the war machine and corporate welfare should be terminated, and the tax code changed to eliminate all the loopholes for the ultra wealthy.

And make those lower income people who pay no income taxes pony up their fair share.

 

[Votto]

What’s a robust 401k?

If you work for the US federal government you have a robust 401K

 

[ThunderKiss1965]

SS and MC were started in 1934 and 1965 respectfully. In 1934 job were much more physical and people’s bodies broke down starting in their 50s. Nowadays go to any company and you see people working well into their 70s… heck even construction are less strenuous on the person’s body. The trend is only going to increase. In addition, medicine is getting better and people are living longer. This reality should be recognized.

In addition it is much easier to take care of oneself and eat better and feel better at older ages.

Our safety nets need to reflect this new reality.

Got to keep those Government run Ponzi schemes going as long as possible.

 

[gipper]

And make those lower income people who pay no income taxes pony up their fair share.

Typical con fallacy. The poor already pay a higher percentage of their income in ALL taxes than the rich.

 

[rightwinger]

Non answer

There is no “one size fits all” for retirement

You should know that

 

[initforme]

Not going to have a robust 401 making $20 per hour. No how no way. Unless one doesn't want one ounce of enjoyment.

 

[bendog]

No, but the war machine and corporate welfare should be terminated, and the tax code changed to eliminate all the loopholes for the ultra wealthy.

I'm good with eliminating the soc sec cap on income ... at least for those making over 500K. But generally, I'm against punishing the wealthy for being wealthy for general expenditure taxes. Just tax them at their rate and allow them the same standard deduction the rest of us get. If we want to keep low taxes on cap gains, ok. And I guess treating venture capital with less taxes is ok too

 

[ThunderKiss1965]

Typical con fallacy. The poor already pay a higher percentage of their income in ALL taxes than the rich.

Most of them pay no Federal income taxes. Time for them to pay their share.

 

[jwoodie]

Social Security is a flat rate-funded retirement system which essentially screws middle income workers by requiring full payment for reduced benefits. This allows for increased benefits for low income workers and a tax cap/exemption for high income workers.

Of course this unwarranted exemption should be eliminated, but there is an even bigger SS tax loophole that should be addressed: Social Security taxes are only applied to "earned" income, not other income such as dividends and short-term capital gains. This is what allowed Warren Buffet to infamously claim that he paid less taxes than his secretary.

However, the biggest elephant in the room is Medicare/Medicaid (or whatever other euphemisms are in vogue to explain the insane amount of money we spend on medical care for the elderly). Should heroic treatment for terminally ill patients, with only the hope of extending their lives a few weeks or months, be a guaranteed right? To what end can these financially ruinous means be justified?

 

[Lesh]

You know there is no SS Trust Fund do you?

It is mostly IOUs..................Really!!

It is completely IOUs...also known as Treasury Bills

Ya fucking moron

 

[Lesh]

Yea...why not raise the age to 100?

That would save a lot of money...right?

 

[gipper]

Most of them pay no Federal income taxes. Time for them to pay their share.

No. They already pay too much in all taxes. Why do you want to hurt people who have little money and pay more in taxes than the rich, as a percentage of their income? Do you hate the poor?

 

[bendog]

Sorry to hear about you and your wife's health issues. But there are a few options to consider.
1. You don't need to work until ages 66 and 67. You can get SS at 62 but less than the max amount. Its a tradeoff on how much you need a month from SS.yeah
2. The problem is that Medicare starts at age 65, so if you retire before age 65 paying out of pocket for healthcare insurance is expensive. Hope you have a pile of cash saved up.

Well, in theory at least, disablity under SSDI or SSI should also include medicaid eligibility. But only Admiral knows his own situation.