View Poll Results: Should SSI Retirement Be Set At 70?

Voters
48. You may not vote on this poll
  • Yes

    14 29.17%
  • No

    28 58.33%
  • Maybe (explain)

    6 12.50%
Page 2 of 9 FirstFirst 1234 ... LastLast
Results 11 to 20 of 87

Thread: Should Retirement Age Be Raised to 70?

  1. #11
    Banned
    Join Date
    Oct 2009
    Last Seen
    07-23-12 @ 03:52 PM
    Gender
    Lean
    Private
    Posts
    6,763
    Blog Entries
    2

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by samsmart View Post
    Unless we stop the practice of turning funds paid into SS into T-bills it's not going to matter how much we raise the retirement age - there won't be enough funds in SS because they all get spent to pay for other things.
    Well now it will help...

    If we take in X dollars for FICA and we spend x on SS leaving y dollars that gets spent on the general fund, which costs Y, paid for by taxes and fees: z:

    X = x + y.
    Y = z + y.

    On the current course, x will grow larger than X, y will go negative and we will have to dip into general funds to pay for X. By raising the retirement age, X will grow (revenues will increase for FICA as people will work longer paying) and cover the increase in x (the cost of SS). y will stay positive, FICA contributing to the general fund.

  2. #12
    Banned
    Join Date
    Oct 2009
    Last Seen
    07-23-12 @ 03:52 PM
    Gender
    Lean
    Private
    Posts
    6,763
    Blog Entries
    2

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Camlon View Post
    It will, but it's not what is driving the cost up. After what I have seen there are two factors thst drive cost up. Overconsumption and the lack of cost reducing incentives drive the cost up in health care. Also, schools are using too much money on non-school related stuff, like baseball field, indoor swimming hall, tennis courts, football field, track field, etc.

    I think going for 70 years is taking it too far, because if the life expectancy is 78, then a lot of people will die straight after retirement and also a lot of people are not able to enjoy their retirement because they are too old.
    As for healthcare, the recent healthcare bill will drive costs up even more, what with taxes, an increased base of insured and fewer doctors.

    Not sure what school spending has to do with the cost of healthcare.

    We need to eliminate SS and reduce Medicare.

  3. #13
    Banned
    Join Date
    Jul 2009
    Location
    Oslo, Norway
    Last Seen
    07-07-16 @ 08:11 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    2,854

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by reefedjib View Post
    As for healthcare, the recent healthcare bill will drive costs up even more, what with taxes, an increased base of insured and fewer doctors.

    Not sure what school spending has to do with the cost of healthcare.

    We need to eliminate SS and reduce Medicare.
    I agree with you there, the health care bill is not really a real reform and will only drive up costs further.

    However, I was talking about the cost for the federal government. There are two factors that are causing the massive deficit. It is health care cost and education. Also, I don't think US really need to eliminate programs. The most important thing is to bring cost incentives back. Today, people on insurance pay very little themselves for health care, hence they get a lot of uneccesary treatment. Also there is little competition and lawsuits aren't helping either. This is a very good article about what is wrong Reforming American health care, from the Economist
    Last edited by Camlon; 08-10-10 at 06:37 AM.

  4. #14
    Baby Eating Monster
    Korimyr the Rat's Avatar
    Join Date
    Feb 2006
    Location
    Laramie, WY
    Last Seen
    11-23-17 @ 02:02 PM
    Gender
    Lean
    Libertarian - Left
    Posts
    18,709
    Blog Entries
    1

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Camlon View Post
    I think going for 70 years is taking it too far, because if the life expectancy is 78, then a lot of people will die straight after retirement and also a lot of people are not able to enjoy their retirement because they are too old.
    Where did we develop this notion that we deserved to retire early enough to "enjoy" our retirement?

  5. #15
    Anti-Hypocrite
    molten_dragon's Avatar
    Join Date
    Oct 2009
    Location
    Southeast Michigan
    Last Seen
    Today @ 06:10 AM
    Gender
    Lean
    Slightly Liberal
    Posts
    9,351

    Re: Should Retirement Age Be Raised to 70?

    I'm not sure it needs to jump to 70, but it does need to go up.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

  6. #16
    Banned
    Join Date
    Jul 2009
    Location
    Oslo, Norway
    Last Seen
    07-07-16 @ 08:11 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    2,854

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Korimyr the Rat View Post
    Where did we develop this notion that we deserved to retire early enough to "enjoy" our retirement?
    Not everything is aboout money, is it? I think people deserve a period where they can do what ever they would like before they get too old to do anything fun.

  7. #17
    Baby Eating Monster
    Korimyr the Rat's Avatar
    Join Date
    Feb 2006
    Location
    Laramie, WY
    Last Seen
    11-23-17 @ 02:02 PM
    Gender
    Lean
    Libertarian - Left
    Posts
    18,709
    Blog Entries
    1

    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Camlon View Post
    Not everything is aboout money, is it? I think people deserve a period where they can do what ever they would like before they get too old to do anything fun.
    It's not about money. It is about duty. Too much of our society is dedicated to this notion of being able to live without obligations.

  8. #18
    Doesn't go below juicy
    tacomancer's Avatar
    Join Date
    Jan 2010
    Location
    Cleveland
    Last Seen
    05-20-16 @ 02:42 PM
    Gender
    Lean
    Other
    Posts
    31,781

    Re: Should Retirement Age Be Raised to 70?

    I see no problem with raising the retirement age to 70. According to some actuarial tables I just looked up, I am probably going to live to nearly 80 anyway.

  9. #19
    Global Moderator
    Moderator

    Zyphlin's Avatar
    Join Date
    Jul 2005
    Location
    NoMoAuchie
    Last Seen
    @
    Gender
    Lean
    Independent
    Posts
    47,945

    Re: Should Retirement Age Be Raised to 70?

    Social Security needs significant reform.

    If that reofmr won't be talked about and actually dealt with then this is about the best bandiad we can put on that is at least feasable, and in this case I think a bandaid is better than nothing.

    However the far better option is a full scale reform of SS with the money paid in being set aside, the retirement age raised slightly, and individuals under a certain age automatically opted out and those between two middle ages having the choice to opt out, and finally with a very small sales tax that goes to the SS fund that remains in place until the final person is off of Social Security. All excess money in the fund after that point either goes directly to paying down the debt or as a tax rebate.

  10. #20
    Sage
    Harry Guerrilla's Avatar
    Join Date
    Dec 2008
    Location
    Not affiliated with other libertarians.
    Last Seen
    09-01-17 @ 02:38 PM
    Gender
    Lean
    Libertarian
    Posts
    28,955

    Re: Should Retirement Age Be Raised to 70?

    Man I just love that a potentially significant portion of my retirement funds can be delegated or withheld from me based on the opinion of other people.

    I hate SS, I want to direct all of my own retirement funds and decide when I want to retire.
    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.
    —Adam Shepard

Page 2 of 9 FirstFirst 1234 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •