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

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    14 29.17%
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    28 58.33%
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Thread: Should Retirement Age Be Raised to 70?

  1. #41
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by megaprogman View Post
    For anyone who wasn't rich I am guessing.
    Depends on your perspective. Sure compared to today, it was ****ty back then. I'm sure those who lived in the 1600's thought some of them have it better than others who lived in the 1400's or 1500's. Every era however has their downtrodden, oppressed and groups who have a ****ty life, even in today's world. Given their perspective in the 1600's, they may have been very thankful it wasn't still the 1300's.
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by samsmart View Post
    What I would rather happen is that the money that people pay into SS actually go into it instead of being turned into T-bills. If the Republicans and Democrats would just use the money paid into Social Security for Social Security payouts instead of paying for other government programs, we wouldn't have to raise the retirement age.
    The best idea is to just let people invest their own money for retirement, but since there are lots of people who would just squander it, it's probably not feasible. The next best is to put all of the SS money into interest-bearing accounts and everyone gets back exactly what they put into it, plus interest, not one penny more or less. Of course, as you said, that would require that the government have any self-control whatsoever, which we all know it doesn't.
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  3. #43
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    Re: Should Retirement Age Be Raised to 70?

    No, the retirement age should not be raised to 70 so long as the government has control over SS. If it was privatized than sure, people could opt out of retiring at 70 and retiring whenever they want. We pay into SS all our lives only to have the spendhappy government squander our "retirement" that was established for our own good. This is just a move to get 5 more earning years from people and 5 less years of having to give them what they have paid into all their lives.
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  4. #44
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Harry Guerrilla View Post
    I'm not entirely sure I believe that.
    If you don't than I have an indentured servent to sell you.

    Quote Originally Posted by Harry Guerrilla View Post
    It was designed to cover less than half of the people.
    That's why the original retirement age was above the average life expectancy.

    So lets get this straight, we're going to create a retirement system that doesn't cover a majority of people but makes all working people pay into it.
    When it was created, the concept of retirement was probably foreign to most people and it functioned more to cover disability brought on by old age.

    Quote Originally Posted by Harry Guerrilla View Post
    Bull, you're going to have to present evidence, that before Social Security, elderly people died more often because they were broke.
    You're just making assumptions.
    There seems to be little data about that from the 1930s, or at least nothing I can find, but I think we can look at the effect by analyzing the effect that SS has on poverty and the effect poverty has on life expectancy.

    Social Security Lifts 13 Million Seniors Above the Poverty Line — Center on Budget and Policy Priorities

  5. #45
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by megaprogman View Post
    If you don't than I have an indentured servent to sell you.
    That's just one small aspect of the 1600's.
    I don't buy everything people popularly believe about history.

    Quote Originally Posted by megaprogman View Post
    When it was created, the concept of retirement was probably foreign to most people and it functioned more to cover disability brought on by old age.
    To some people I'm sure, then again a lot of people retired to work with their children, helping raise their grandchildren and maintain the household while the parents worked.

    Quote Originally Posted by megaprogman View Post
    There seems to be little data about that from the 1930s, or at least nothing I can find, but I think we can look at the effect by analyzing the effect that SS has on poverty and the effect poverty has on life expectancy.

    Social Security Lifts 13 Million Seniors Above the Poverty Line — Center on Budget and Policy Priorities
    Poverty isn't accurately represented in this.
    A lot of elderly people, prior to Social Security, had smaller incomes but lived with other people, specifically family members.
    So to say they were impoverished, would be false.

    The facts are that the U.S. was #6 in life expectancy in the 1900's with Australia and Northern European countries beating us.
    We've have more or less remained in a similar spot the whole time, I don't think you can credit that to Social Security.
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  6. #46
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Harry Guerrilla View Post
    That's just one small aspect of the 1600's.
    I don't buy everything people popularly believe about history.
    Its an important one though. It shows that people were desperate enough to sell their very life to another (or at least a few years of their life).

    Quote Originally Posted by Harry Guerrilla View Post
    To some people I'm sure, then again a lot of people retired to work with their children, helping raise their grandchildren and maintain the household while the parents worked.
    I was more referring to the common concept of retirement today where you are pretty much on an extended vacation.

    Quote Originally Posted by Harry Guerrilla View Post
    Poverty isn't accurately represented in this.
    A lot of elderly people, prior to Social Security, had smaller incomes but lived with other people, specifically family members.
    So to say they were impoverished, would be false.
    Its possible that you may be right. I haven't seen much data either way on it.

    Quote Originally Posted by Harry Guerrilla View Post
    The facts are that the U.S. was #6 in life expectancy in the 1900's with Australia and Northern European countries beating us.
    We've have more or less remained in a similar spot the whole time, I don't think you can credit that to Social Security.
    Thats a relative position and also you are comparing us to other countries that have socialized retirement benefits.
    Last edited by tacomancer; 08-10-10 at 02:07 PM.

  7. #47
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by megaprogman View Post
    Its an important one though. It shows that people were desperate enough to sell their very life to another (or at least a few years of their life).
    People do that now, in a less extreme fashion.
    When you go to work, you're selling your life.

    Quote Originally Posted by megaprogman View Post
    I was more referring to the common concept of retirement today where you are pretty much on an extended vacation.
    I can't think it efficient to pay people not to work.
    Doesn't make much sense, from a taxation standpoint.

    Quote Originally Posted by megaprogman View Post
    Its possible that you may be right. I haven't seen much data either way on it.
    Economic History of Retirement in the United States | Economic History Services

    A big read.

    Quote Originally Posted by megaprogman View Post
    Thats a relative position and also you are comparing us to other countries that have socialized retirement benefits.
    Australia didn't start an old age pension system until 1909, the numbers I'm talking about are in 1900.
    http://www.ajcn.org/cgi/reprint/55/6/1196S.pdf
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  8. #48
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    Re: Should Retirement Age Be Raised to 70?

    I think this is greater than a surface issue. This is a complex. Black men have a far lesser life expectancy than white men (most recent studies suggest about 6.2 years). The overall average life expectancy is 77. Raising it to 70 would have some consequences on minorities for sure. Also raising Social Security would change retirement ages which would mean older people would stay in senior employment positions decreasing job and promotion opportunities for younger folk. If we look just at social security there is a significant disparity in those that take it earlier than later.

    I think they should leave it where it is at but give people that can afford it an option to take it later at a significantly higher rate.

  9. #49
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by digsbe View Post
    This is just a move to get 5 more earning years from people and 5 less years of having to give them what they have paid into all their lives.
    Yes, that is exactly what it is. And that is the only way to save Social Security-- ensure that more people pay into it and fewer collect.

  10. #50
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    Re: Should Retirement Age Be Raised to 70?

    Live longer? You need to retire later.

    Sounds like a no-brainer to me.

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