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re: Nikki Haley Says It’s Time to Raise the Retirement Age to Reflect on Life Expectancy
Posted on 11/15/23 at 3:55 pm to Auburn1968
Posted on 11/15/23 at 3:55 pm to Auburn1968
If you actually want SS to be around this is the only sane solution. Life expectancy was less than 65 when it started in 1933. I love that my Grandmother lived to be 102 but the system was just not set up to have someone work for 40 years and then be on SS for 40 years and there are a lot of follks like that. Way too many have also chosen not to have kids too.
So either live in dream world where the money magically appears or wake up. I say that as a Gen X who has paid an obscene amount of money into SS and don't expect I will stop working until I am physically incapable of doing so because I expect to get screwed out of all the money I put in or at least most of it. Raising the age to 70 is the only prudent choice.
Damn I hate defending Haley.
So either live in dream world where the money magically appears or wake up. I say that as a Gen X who has paid an obscene amount of money into SS and don't expect I will stop working until I am physically incapable of doing so because I expect to get screwed out of all the money I put in or at least most of it. Raising the age to 70 is the only prudent choice.
Damn I hate defending Haley.
0
Posted on 11/15/23 at 4:36 pm to Auburn1968
There’s no way someone is stupid enough to vote her. All her votes will be from a group that just wants to see the first woman president.
Posted on 11/15/23 at 4:54 pm to frogtown
quote:
You can raise the retirement age or raise your FICA taxes. That will eventually be your choice.
FICA taxes were jacked up under Reagan, but the government just kept "borrowing it" at well below the rate of inflation so the real dollar value keeps decreasing.
Posted on 11/15/23 at 4:59 pm to lsusteve1
quote:
Or
How about we hold the idiots accountable for overspending
Now there's an idea!
In terms of means testing, it has been since the dems added SS to taxable income so if you make more than a little bit, it gets taxed again.
If SS was a private pension fund, those managing it would be in jail for fraud.
Posted on 11/15/23 at 5:10 pm to Auburn1968
Fine, just so govt workers have to work just as long. No more 25-30 years with full pay. I'll have to work 47 to reach full retirement
Posted on 11/15/23 at 5:14 pm to Auburn1968
quote:
How about we hold the idiots accountable for overspending
I'm with you, too. Trump raised the national debt by $7.8 Trillion in his four years.
I get it; Paul Ryan was the adult who pointed out that entitlement spending is non-sustainalbe, and the democrats and the media (I repeat myself) accussed him of literally throwing grandma off a cliff. Democrats run as Santa Claus, and it's hard to beat Santa Claus, so modern Republicans do the cowardly thing that allows them to be elected- rather than saying "we must control gov't spending," and trying to persuade voters it's in everyones' interests to do what is right (but hard) now they say, "we want to spend as much as democrats, but elect us to spend it on what our tribe wants, and what will piss off the democrats." But both sides are still spending out of control and Haley, probably knowing she has no has nothing to lose, is being the adult in the room.
Posted on 11/15/23 at 5:20 pm to Auburn1968
Hot take: there shouldn’t even be a “retirement age”.
Posted on 11/15/23 at 5:24 pm to Burt Orangello
quote:
I DGAF if I have a net worth of $50m. That fricking money was earned by me, paid into the system by me, and is MY fricking money.
Why don't you just come out and say that you don't understand how insurance works.
Posted on 11/15/23 at 5:26 pm to Ten Bears
quote:
Yep, or means test benefits. Any candidate that doesn't support even minor reforms is weak AF
It's inevitable that FICA taxes will go up and the range seems to grow rapidly. I think the cutoff mark is now at 160K or so
ETA - The limit next year will be $168,600
This post was edited on 11/15/23 at 5:27 pm
Posted on 11/15/23 at 5:30 pm to Indefatigable
quote:
Hot take: there shouldn’t even be a “retirement age”.
I’ve seen hotter takes in the quad at University of Antarctica about halfway through the winter solstice semester break.
Posted on 11/15/23 at 5:36 pm to Auburn1968
Says her who can retire today with her millions. Witch.
Posted on 11/15/23 at 5:41 pm to frogtown
Or they can quit spending our money....
Posted on 11/15/23 at 6:04 pm to Auburn1968
I can hate Nikki, but it doesn't mean she' wrong
Posted on 11/15/23 at 8:01 pm to Deplorableinohio
quote:
am a retired white collar worker. I worked construction blue collar jobs in high school and college. Hard work. I worked with blue collar employees: welders, electricians, instrumentation techs, etc. I don’t know how those guys can get into some of the confined spaces to do work at 60 let alone 70. I stopped going into confined spaces in my 50s. Politicians who glibly talk about raising the retirement age to 70 have no idea how hard the working class works. The uniparty is not for the working class. Period
This is the best and only answer. I'm ex military, white collar. I'm taking my money.
Posted on 11/15/23 at 8:03 pm to Auburn1968
That has already been done.
Posted on 11/15/23 at 8:06 pm to Auburn1968
No one I know here in her state, that's for sure
Posted on 11/15/23 at 8:08 pm to WildTchoupitoulas
quote:
Why don't you just come out and say that you don't understand how insurance works.
Are we talking about insurance or things like social security?
I'm well aware of how it all works. It's not a matter of mechanics. It's a moral and ethical issue.
The bottom line is that if you're going to take money from me by force - money that I could invest myself and generate a much higher return - with the promise that when I retire, I'll get SS payments, then we're not "means testing" shite. That's my money and I will be taking it.
Deciding that I don't "need" it and redistributing it to someone else is as immoral as it gets.
Posted on 11/16/23 at 9:01 am to Burt Orangello
quote:
Are we talking about insurance or things like social security?
Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935, and the existing version of the Act, as amended, encompasses several social welfare and social insurance programs.
The Federal Insurance Contributions Act (FICA) is a United States federal payroll (or employment) contribution directed towards both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.
You're bitching and moaning about something you don't even understand.
Social Security is, among other things, retirement INSURANCE. That's why they call it insurance. It is NOT an investment scheme. You and your moral outrage just look foolish.
Posted on 11/16/23 at 9:03 am to BHS78
quote:
Fine, just so govt workers have to work just as long. No more 25-30 years with full pay.
That's cute that you think that sort of pension still exists.
Posted on 11/16/23 at 9:06 am to Auburn1968
She's right, but no one's ever going to get elected spouting something like this.
That being said, if they're going to be sending trillions to foreign countries for things that have nothing to do with us then they definitely shouldn't be taking retirement funds from our own elderly.
That being said, if they're going to be sending trillions to foreign countries for things that have nothing to do with us then they definitely shouldn't be taking retirement funds from our own elderly.
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