Why retiring at 65 could become a thing of the past

cawacko said:
Look at the average life expectancy when S.S. was created compared to today. It was much shorter. So to keep the system solvent you either have to raise the retirement age to keep it proportionately in line or you have to massively increase taxes.

It's understandable people don't want to be forced to work later in life if they don't want to. The answer to that is live more frugally now and save more for the future.
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You can't tell this to Boomers. They're incapable of understanding concepts like planning, or the future, or consequences for poor decisions.
 
Bull Durham said:
In my generation, you have to plan as though it doesn't exist, in the event that it doesn't, when you get there.
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It's nice that it is there. It's also nice that the threat of Social Security 'going away', forced Congress to come up with the 'Individual Retirement Arrangement', a gold standard 'Trust Fund' for the Working Class that had only existed for the Wealthy up until then.
 
RB 60 said:
Then you still live with mommy and daddy? Most of us used a good part of our savings as a down payment on a house long before 30. I also had a respectable investment in antique firearms. I am retired. I am 59.
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So you retired early to hang out on JPP?:palm:
 
cawacko said:
Look at the average life expectancy when S.S. was created compared to today. It was much shorter. So to keep the system solvent you either have to raise the retirement age to keep it proportionately in line or you have to massively increase taxes.

It's understandable people don't want to be forced to work later in life if they don't want to. The answer to that is live more frugally now and save more for the future.
Click to expand...

Remove the cap on earnings that are taxed.
 
MASON said:
Absolutely!
The American system is rigged for the rich,and fuck everyone else in the ass
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It was a good idea for the people that would grow old, live with their children, and die in Poverty. People like Social Security. They can live on their own and not have to burden their Families.

"For 2019, the maximum amount of taxable earnings is $132,900."
https://www.ssa.gov/planners/maxtax.html

Remove this 'cap' on Earnings that are Taxed.
 
Jack said:
It was a good idea for the people that would grow old, live with their children, and die in Poverty. People like Social Security. They can live on their own and not have to burden their Families.

"For 2019, the maximum amount of taxable earnings is $132,900."
https://www.ssa.gov/planners/maxtax.html

Remove this 'cap' on Earnings that are Taxed.
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So for a Billionaire,they pay SS tax on what they make on Jan 1 between midnight and 1:00 am.
 
cawacko said:
Look at the average life expectancy when S.S. was created compared to today. It was much shorter. So to keep the system solvent you either have to raise the retirement age to keep it proportionately in line or you have to massively increase taxes.

It's understandable people don't want to be forced to work later in life if they don't want to. The answer to that is live more frugally now and save more for the future.
Click to expand...

You forgot to consider the fact that there are many people living paycheck to paycheck, because of the GOP's plutocratic economical policies.
 
RB 60 said:
Then you still live with mommy and daddy? Most of us used a good part of our savings as a down payment on a house long before 30. I also had a respectable investment in antique firearms. I am retired. I am 59.
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My parents have been long dead for a minute there buddy. Shame you aren't though, useless Boomer.
 
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