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

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  • Yes

    14 29.17%
  • No

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

  1. #61
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    Re: Should Retirement Age Be Raised to 70?

    All Ponzi schemes eventually fall apart and someone is going to take the hit.
    Abolish SS now and let the boomer generation take the hit. I am a boomer and would be willing to take one for the team.

  2. #62
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by pbrauer View Post
    The retirement age should be lower not raised and the cap should be significantly raised or eliminated altogether. Lowering the retirement will leave more room for younger workers.
    The idea that removing jobs will open up new jobs for other people is a completly false idea.

    It's because there are two kinds of unemployment.
    Demand - This is the unemployment US got today. To decrease this kind of unemployment you need to get people to get confidence in the economy again. Decreasing the labour force won't increase the confidence in the economy.

    Frictional - Unemployment caused by distortions in the market. For instance a high minimum wage can prevent people from getting a job, because they can't produce minimum wage value. Tough employment laws can make employers scared of hiring, or people can educate themselves to wrong professions. By decreaseing the labour force, fricrtional unemployment won't go down.

    France set a cap of 35 hours per week to decrease unemployment, and it didn't help at all. Just made people poorer and prevented them from taking more hours to be able to pay ther bills. Reducing the retirement age will only be a liability for the government.

  3. #63
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Harry Guerrilla View Post
    It's unfair, to all income spheres, that actively save for their own retirement.
    People who save for retirement have a better standard of living. And they leave behind an estate when they die.

    Quote Originally Posted by Harry Guerrilla View Post
    Not to mention, a major rip off, if you die before retirement age.
    It's an insurance program. Insurance is always a ripoff until you need it.

  4. #64
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Korimyr the Rat View Post
    People who save for retirement have a better standard of living. And they leave behind an estate when they die.
    Except it could be much better if they were allowed to retain their SS contributions.

    Quote Originally Posted by Korimyr the Rat View Post
    It's an insurance program. Insurance is always a ripoff until you need it.
    You can't insure against something that is going to happen for the vast majority of people.
    That's insane and doesn't make any sense at all.

    Disability, yea that can be insured againt.
    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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  5. #65
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by digsbe View Post
    Why not allow people to opt out of social security and be the masters of their own retirement?
    Because many people will do so, not taking a long view, and then upon retirement suddenly become welfare burdens. And if you're worried about social security becoming bankrupt now, just imagine it when half the people aren't contributing.

    The best solution is one that will never get passed:

    1. Raise the retirement age as life expectancy increases; and

    2. Limit social security to those in need (millionaires don't need that extra couple of hundred bucks a month).

  6. #66
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    Re: Should Retirement Age Be Raised to 70?

    The reason I am torn is my grandparents. They were farmers all their life, incredibly frugal, saved constantly. The most money they ever spent was on their grandkids. Then my grandfather was hit with prostate cancer and eventually passed away. That wiped them out quite a bit. Then my grandmother, living on her own started getting amounting health cost, wiped her out for the most part now she lives off of medicaid and SSI. Some people genuinely just need it, and could have tried very hard to make sure they didn't have to rely on it (they were both straight up and down conservative Republicans) but thank God she did have SSI.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

  7. #67
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Harry Guerrilla View Post
    You can't insure against something that is going to happen for the vast majority of people.
    That's insane and doesn't make any sense at all.
    Sure you can. It's just a matter of how much you pay in premiums. And the original retirement age was higher than the life expectancy at the time, so the vast majority of people did not collect.

  8. #68
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by samsmart View Post
    That's it, pretty much.
    Then I don't see where the issue is.

    The government's benefits are ****, anyway - minuscule - If someone wants to retire at 60 they should plan for that, square things away, and then just get the extra benefits when they're 70 or whatever the age is.

    But it seems that *everyone* intends on using SS *to* be their main source when they retire - and that's just setting people up for serious disappointment. . . because for the people who are solely or mostly dependent on their SS benefits the only thing I hear are complaints about how far the money doesn't go.

    Obviously, if someone wants to retire, there's more to it than *just stop working for the rest of your life* - you *must* plan for it. . . and since, after all my years, I still don't see the benefits of retiring I'll likely work until I die because I'm 30 and have yet to even graduate college, let alone carve out a decent retirement savings for myself.
    Last edited by Aunt Spiker; 08-12-10 at 09:57 AM.
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  9. #69
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Korimyr the Rat View Post
    Sure you can. It's just a matter of how much you pay in premiums. And the original retirement age was higher than the life expectancy at the time, so the vast majority of people did not collect.

    In that case it's unjust. Why should somebody have to pay for someone else's retirement?
    “The means of defense against foreign danger historically have become the instruments of tyranny at home."
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  10. #70
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    Re: Should Retirement Age Be Raised to 70?

    Quote Originally Posted by Johnny View Post
    In that case it's unjust. Why should somebody have to pay for someone else's retirement?
    Government isn't about justice.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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