by Elsewhere 11 Replies latest jw friends
http://www.cnn.com/2005/ALLPOLITICS/03/07/social.security.ap/index.html
Holly crap! I just read an article where a senator wants to raise the retirement age to 68!!! Hell... unil just then I thought retirement age was 64!!!
Before you know it they will restrict social security benefits to the point that only dead people will qualify for it!
Well, people are living longer. And because people aren't having enough child-producing sex, the pop. falls and the need for skilled workers increase as the previous generation retires.
I would much prefer for the SS tax to be increased as opposed to moving the retirement age back.
Right now it is only 6.2% on earning... I'd be willing to have it go up a few points.
I sure am glad that I started my retirment savings when I was 25. I'd hate to have to rely on the current SS system.
In the 1930's most people died at 60. That is why the retirement age was fixed at 65 so that most people would die before taking anything out. The retirement age is gradually increasing as part of the so called fixes from 1986. Most folks did not pay attention. In the past few years citizens get a yearly statement from Uncle Sam with your total contributions and how much per month you can expect and at what age you are entitled to benefits.
The biggest problem is that folks do not want to accept that since 1935 Social Security has been a Ponzi or Pyramid scheme. It is only successful when more people are paying in and a small number are paid off. Eventualy you reach the point where the money dries up because no one new is coming in.
There is no easy way out, no little fixes to shore it up. Social Security should be ended once and for all. Many people will be hurt. The US government is just like a confidence man bilking citizens out of their life savings. The worse part is confidence men can be sent to jail while the con men in Congress just get re-elected.
The Pres neds to leave SS alone----individual retirement money invested in the stock market for SS purposes may go to corporations like Enron----then, they'll be nothing for anybody.
I agree that Social Security should be left alone.
That is the fastest way for it to run out of money proving that it was a Pryamid Scheme from the begining.
Only when Social Security hits the brick wall and runs out of money will people understand it is based on an economicaly unsound idea.
Elsewhere . . .sorry, didn't really answer your question. NO, the age should not be moved up to 68.
Social Security could have been saved if our government didn't spend the money dedicated to it in the first place. Renenber that SS tax hike back in the 80's? It's gone to pad congress' pork.
If they're serious about SS though, they should only allow those that can prove they're US residents social security. The illegal aliens are pushing as much as 3 billion dollars of our SS into Mexico and other countries year.
Aaarrrggghhhhh! I hate this entire subject, thanks Elsewhere! *regains composure* ahem, sorry.
What I meant to say was, this was a rip off scheme from the beginning. Before SS, people used to plan to do two things before they retired, pay off their home, and have a few bucks in the bank.
Now we have grown lazy, and are letting Uncle Sam think for us... We pull money out of our homes over and over so that they are not paid off when we retire, and we do not save enough because, 'social security will be there for us'. It's a disaster. Many people will never see a dime of SS if they do something about it now or not. I'm not planning on SS being there for me because by the time I reach 67, the age will be 90.
S C A M
Jeannie
The "average" person only lives about 7 years after retirement.
Getting old is like having a baby... it's coming whether you're prepared or not. Don't get to "anxious". Be nice to people... you may "need" them some day (probably after you're "retired").
That's why everyone here should feel "LUCKY" and get out and make friends while there is still time- b/c you Dub bro's WILL NOT BE THERE IF AND WHEN YOU NEED THEM!!!! Make no mistake. Show practical wisdom- like Jesus said...
u/d (of the "I'm no fool, no siree, I'm gonna live to ba a 103" class)- Jiminee Crickett
