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Retirement age

Should the retirement age be raised?

  • yes

    Votes: 15 20.0%

  • no

    Votes: 44 58.7%

  • base it on income level

    Votes: 4 5.3%

  • abolish social security

    Votes: 4 5.3%

  • other

    Votes: 8 10.7%
  • Total voters
    75
I think the retirement age for people who push paper around could be raised into the 70's. But people who work in the restaurant business, the trades, and even factory work should not have their retirement age raised. A coal miner should retire in his 60's at the latest, if he makes it that long. Someone doing concrete work usually has blown out knees and back by their 50's. Raising retirement on people who do no physical labor might be OK, but people who do strenuous physical labor need that early retirement.
 
Elvira said:
Hmmm, I don't think that's right...my Dad retired at full retirement age...62...he's now 87...at any rate, I don't think it should be raised...it's difficult enough to keep working until 65, which I did...I retired in Dec 2017...I was ready...
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62 isn't full retirement age for Social Security; it's the earliest retirement age. Depending on when you were born your full retirement age could be 66 plus a few months or more.
 
concernedpuma said:
The heck they don't! What a terrible misconstruction of the truth, that is. FICA is universally applied.
Regards.
CP
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It's not taxed the same. Because my wife and I have too much income, ALL of my Social Security is taxed; even though I paid taxes on it (my half) when it was with-held. Lower income brackets are only taxed on the employers half, which was not taxed on with-holding.
 
Waddy said:
I think the retirement age for people who push paper around could be raised into the 70's. But people who work in the restaurant business, the trades, and even factory work should not have their retirement age raised. A coal miner should retire in his 60's at the latest, if he makes it that long. Someone doing concrete work usually has blown out knees and back by their 50's. Raising retirement on people who do no physical labor might be OK, but people who do strenuous physical labor need that early retirement.
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I hear you, but, we can't all be coal miners, or waiters. I worked as a Paper Pusher for the last part of my career. I don't expect that anyone should be robbed of their contribution to SS because they didn't sweat as much as others. Why should they?
No disrespect intended. My single parent mother was a waitress most of her life(God rest her)
Regards,
CP
 
Waddy said:
It's not taxed the same. Because my wife and I have too much income, ALL of my Social Security is taxed; even though I paid taxes on it (my half) when it was with-held. Lower income brackets are only taxed on the employers half, which was not taxed on with-holding.
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I believe you will find, that FICA was on the gross. Yes?
Regards,
CP
 
marke said:
Legislators have toyed with ways to give the government more of an advantage when it comes to paying back out funds they took from workers specifically for social security retirement. If retirement age could be raised to 85 and benefits could be cut then the government could come out richly benefiting from the social security scheme it invented 80 years ago.
a
I am still working and still paying social security taxes, something I started more than 50 years ago. If I live to be 85 I might get back every dime I paid into the government scheme, but if I don't live that long then the government will have made money off my retirement funds they have been handling.
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Understand there is no concept of "paying back" a single penny of what you pay in through payroll taxes. IT is a TAX - money coming in one door goes out the other in payments to current retirees.
 
Bullseye said:
62 isn't full retirement age for Social Security; it's the earliest retirement age. Depending on when you were born your full retirement age could be 66 plus a few months or more.
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That is why I gave my Dad's age...at the time he retired 62 was full retirement age so the OP is wrong...
 
rickc said:
then remove the $128,000 salary cap and make.all income.subject to the social security tax. should make social security solvent forever
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I've seen several studies that say that wouldn't be the case. Remember, first off, that SS is funded by taxes on WAGES; you don't pay SS on dividends, capital gains, bank interest or investment income.
 
vegas giants said:
That is a great idea
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Meaning that it won't negatively affect you - typical liberal 'logic'. From each according to their ability (to pay more taxes), to each according to their need (for more government assistance).
 
Elvira said:
That is why I gave my Dad's age...at the time he retired 62 was full retirement age so the OP is wrong...
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When did he retire? I've been around a while and I don't remember a 62 full retirement.
 
DH Kirkwood said:
Rasing the retirement-age and privitizing social security is what politicians talk about when they don't want to admit that we really should raise taxes for their donors and club-buddies. **** all of that noise.
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Their donora and club-buddies already pay a huge share of taxes.
 
chuckiechan said:
It’s one thing for an office worker to plug along to 65, but how about a roofer, iron worker, or brick mason?
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All professions need turnover to give the next generation a shot at those jobs.
 
Elvira said:
That is why I gave my Dad's age...at the time he retired 62 was full retirement age so the OP is wrong...
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Ok, I was unaware full retirement had EVER been lower than 65. You are talking Social Security retirement age, correct?
 
ttwtt78640 said:
My father fully retired at age 53 (combined military and civil service) and he is now 96.
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Nothing more to say here in reply, except God Bless your Father. If my math is right, he likely did more than most of us here, to make this board possible!
Regards, to you and especially your, Dad,
CP
 
Bullseye said:
62 isn't full retirement age for Social Security; it's the earliest retirement age. Depending on when you were born your full retirement age could be 66 plus a few months or more.
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I think you are correct. The retirement age of 65 was set in 1935. Early retirement was possible at 62, but at 80% of full retirement benefits.

https://www.nasi.org/learn/socialsecurity/retirement-age

Ironically, retirement age was set with the expectation that few would live to receive it. Guess we fooled them.
 
Elvira said:
That is why I gave my Dad's age...at the time he retired 62 was full retirement age so the OP is wrong...
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I was able to retire in my early 30's when I went on welfare,food stamps,nice monthly free check,section 8 housing,and the best medical available for free via medicaid.I'd like to thank all of the hard working conservatives who have helped me live the life of Riley.:2usflag:
 
concernedpuma said:
I believe you will find, that FICA was on the gross. Yes?
Regards,
CP
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On gross W-2 wages or self-employment income. Oddities in the tax code make (allow?) having some 1099 income exempt. The way that I understand it is that if you have any W-2 income (in a given tax year) then you are not considered to be self-employed even if your 1099 income exceeded your W-2 income. I had one year where I had only 1099 (self-employed) income (above the limit) and was required to pay both the employer and the employee portions of FICA taxes on all of that income.
 
Logician Man said:
I was able to retire in my early 30's when I went on welfare,food stamps,nice monthly free check,section 8 housing,and the best medical available for free via medicaid.I'd like to thank all of the hard working conservatives who have helped me live the life of Riley.:2usflag:
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You are welcome(but maybe a bit of a story teller)
Regards,
CP
 
Bullseye said:
Ok, I was unaware full retirement had EVER been lower than 65. You are talking Social Security retirement age, correct?
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Full retirement at 62 doesn't sound right. Benefits are reduced by at least 25 to 30%.
 
Bullseye said:
Understand there is no concept of "paying back" a single penny of what you pay in through payroll taxes. IT is a TAX - money coming in one door goes out the other in payments to current retirees.
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Social security was not designed as a retirement plan for workers? I did not know that. In other words, the government took money as social security payments but never intended to ever give any of that money back to the retirees once they retired from the workforce? Are you sure you have that right?
 
concernedpuma said:
You are welcome(but maybe a bit of a story teller)
Regards,
CP
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Just a wee bit .I was hauling hay for a penny a bale at the age of 12 in that brutal southern heat and humidity.Misery index was about 115 degrees. :)
 
Yes AND base it on income level/assets.
 
Logician Man said:
Just a wee bit .I was hauling hay for a penny a bale at the age of 12 in that brutal southern heat and humidity.Misery index was about 115 degrees. :)
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Wow! That is amazing! I also rode a trailer at 12(maybe 13) loading hay bales. I did the best I could, but likely didn't earn what I was paid. Loading bales, or some other useful chore, is what today's young folks just don't understand.
Regards,
CP
 
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