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Thread: Boehner wants to raise the retirement age to 70

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    Boehner wants to raise the retirement age to 70


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    Re: Boehner wants to raise the retirement age to 70

    I agree based on the long term ability of Social Security but disagree as well because it's unfair to younger people.
    Us younger folks will get less and have to pay more, it's not right.
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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by Harry Guerrilla View Post
    I agree based on the long term ability of Social Security but disagree as well because it's unfair to younger people.
    Us younger folks will get less and have to pay more, it's not right.
    Actually, it is fair. When SS was first enacted, lifespans were much shorter than they are today. With the increase in lifespans, the requirements must be also adjusted to reflect this.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by Harry Guerrilla View Post
    I agree based on the long term ability of Social Security but disagree as well because it's unfair to younger people.
    Us younger folks will get less and have to pay more, it's not right.
    Not really -- because you'll live longer.

    When social security began, life expectancy was much shorter. Not that many people lived into their 70s. Now, people are still working way past that time (including a recent President and quite a few Senators).

    Most people get more back from social security than they put in, which is one of the reasons it's going broke after all.

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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by danarhea View Post
    Actually, it is fair. When SS was first enacted, lifespans were much shorter than they are today. With the increase in lifespans, the requirements must be also adjusted to reflect this.
    There is no guarantee that I will live past tomorrow, just because the average lifespan is longer doesn't mean my lifespan is longer.

    I'd rather have the option of opting out altogether.
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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by Harry Guerrilla View Post
    There is no guarantee that I will live past tomorrow, just because the average lifespan is longer doesn't mean my lifespan is longer.

    I'd rather have the option of opting out altogether.
    Well, as long as we're on the subject, I'd also like to make social security based on need. If we want to balance the budget it makes sense. There's no reason why millionaires should be getting social security. Treat it like insurance -- you pay into it hoping that you don't get poor in your old age and if you are, you can collect. You could even make it like real insurance in that you can buy better policies.

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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by Groucho View Post
    Not really -- because you'll live longer.

    When social security began, life expectancy was much shorter. Not that many people lived into their 70s. Now, people are still working way past that time (including a recent President and quite a few Senators).
    Shouldn't I be able to choose when I want to retire?
    That's a lot more fair.

    Especially when you break down who gets the most benefits out of the program.

    Quote Originally Posted by Groucho View Post
    Most people get more back from social security than they put in, which is one of the reasons it's going broke after all.
    That should raise the retirement age for some but not all people, if we are going to do it based on life expectancy.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Boehner wants to raise the retirement age to 70

    Quote Originally Posted by Groucho View Post
    Well, as long as we're on the subject, I'd also like to make social security based on need. If we want to balance the budget it makes sense. There's no reason why millionaires should be getting social security. Treat it like insurance -- you pay into it hoping that you don't get poor in your old age and if you are, you can collect. You could even make it like real insurance in that you can buy better policies.
    I think a person making $50k a year doesn't really need it as long as they save.
    Some people plan their retirement without factoring in SS and call it icing on the cake, if they do get it.

    Your idea isn't a bad start though.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Boehner wants to raise the retirement age to 70

    The problem I have with this law is that it wouldn't just affect the work sector, it would affect the way retirement savings work. Would people start being penalized with taxation if they start dipping into retirement funds at age 65 instead of 70?

    I think retirement age should stay where it is. Just because life expectancy is now higher does not mean you have long term quality of life. At least at age 65 you have the potential to still be somewhat healthy and active. Once you hit age 70 you are exponentially more likely to suffer a debilitating illness that renders you incapable of doing very much.

    They might as well set retirement to near the point of death. Gotta work people until they've got nothing left in them.

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    Re: Boehner wants to raise the retirement age to 70

    You know, **** them.

    But whatever. I'm going to retire before I'm 45. They can go to hell.

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