It Is Past Time To Raise The SS And Medicare Eligibility Ages

[Oddball]

You bought the total lie that OASI is off budget...All the cash has been sucked out of it and replaced with IOUs...But you're an Obiedoodle rump swab, so lying to you is easy.

 

[boedicca]

Yes the market did murder me today probably more than most guys like you earn in a year

I was speaking of the OASI fake "trust fund"...The money has all been pissed away,

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

The date at which outlays exceed tax collections for SS has moved up into the early 2030s. The proposals being discussed include means testing (which totally screws anybody who actually paid taxes) and an across the board 20% cut in benefits. The Ponzi scheme is headed towards a crash landing.

 

[edward37]

You bought the total lie that OASI is off budget...All the cash has been sucked out of it and replaced with IOUs...But you're an Obiedoodle rump swab, so lying to you is easy.

Odd one,, truth is I don't know what is true and I'm sure you don;t know either

 

[EasyPeasy]

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

I bet you believe in Santa Claus too.

Got a better chance believing in santa than you do believing in trump

What does DJT have to do with this thread?

 

[edward37]

Yes the market did murder me today probably more than most guys like you earn in a year

I was speaking of the OASI fake "trust fund"...The money has all been pissed away,

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

The date at which outlays exceed tax collections for SS has moved up into the early 2030s. The proposals being discussed include means testing (which totally screws anybody who actually paid taxes) and an across the board 20% cut in benefits. The Ponzi scheme is headed towards a crash landing.

Gotta agree with most you say but they just gave me a raise...Maybe republicans will give a war to shrink those who would be getting SS ?,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

 

[boedicca]

Yes the market did murder me today probably more than most guys like you earn in a year

I was speaking of the OASI fake "trust fund"...The money has all been pissed away,

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

The date at which outlays exceed tax collections for SS has moved up into the early 2030s. The proposals being discussed include means testing (which totally screws anybody who actually paid taxes) and an across the board 20% cut in benefits. The Ponzi scheme is headed towards a crash landing.

Gotta agree with most you say but they just gave me a raise...Maybe republicans will give a war to shrink those who would be getting SS ?,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

How does that raise compare to actual inflation?

 

[edward37]

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

I bet you believe in Santa Claus too.

Got a better chance believing in santa than you do believing in trump

What does DJT have to do with this thread?

Poster said I believe in Santa How come you didn't question him Peasy?

 

[edward37]

Yes the market did murder me today probably more than most guys like you earn in a year

I was speaking of the OASI fake "trust fund"...The money has all been pissed away,

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

The date at which outlays exceed tax collections for SS has moved up into the early 2030s. The proposals being discussed include means testing (which totally screws anybody who actually paid taxes) and an across the board 20% cut in benefits. The Ponzi scheme is headed towards a crash landing.

Gotta agree with most you say but they just gave me a raise...Maybe republicans will give a war to shrink those who would be getting SS ?,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

How does that raise compare to actual inflation?

Don't have the #'s but probably not close

 

[boedicca]

I was speaking of the OASI fake "trust fund"...The money has all been pissed away,

What could be clearer?
resident Obama’s budget director, Jack Lew, explained all this last February in USA Today:

"Social Security benefits are entirely self-financing. They are paid for with payroll taxes collected from workers and their employers throughout their careers. These taxes are placed in a trust fund dedicated to paying benefits owed to current and future beneficiaries. … Even though Social Security began collecting less in taxes than it paid in benefits in 2010, the trust fund will continue to accrue interest and grow until 2025, and will have adequate resources to pay full benefits for the next 26 years."

Notice that Lew said nothing about raising the debt ceiling, which was already looming, and it shouldn’t matter anyway because Social Security is “entirely self-financing” and off budget. What could be clearer?

The date at which outlays exceed tax collections for SS has moved up into the early 2030s. The proposals being discussed include means testing (which totally screws anybody who actually paid taxes) and an across the board 20% cut in benefits. The Ponzi scheme is headed towards a crash landing.

Gotta agree with most you say but they just gave me a raise...Maybe republicans will give a war to shrink those who would be getting SS ?,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

How does that raise compare to actual inflation?

Don't have the #'s but probably not close

Of course it's not keeping up with inflation. Government can deal with deficits by raising taxes, cutting spending, or spurring inflation. The latter is the default mechanism.

 

[Skull Pilot]

Of course we can, and they will still be rich. We just pass the law to raise their contributions., thus helping to preserve the economy and national security that fosters the sort of environment people can get rich in. Very simple...it's not rocket surgery....

I reject your imbecilie's rhetoric that taxes are theft.

And which segment of our population has gained overwhelmingly more than any other these past 30 or so years?/ Don't bother ,,,,,The million and billionaires

If the government didn't waste your SS contributions (confiscations) you , too could retire very financially well off.

But SS is designed to keep people dependent on the government after all we can't have a bunch of financially independent retirees enjoying their golden years can we?

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

 

[Skull Pilot]

If the government didn't waste your SS contributions (confiscations) you , too could retire very financially well off.

But SS is designed to keep people dependent on the government after all we can't have a bunch of financially independent retirees enjoying their golden years can we?

What about those who lose all their money ??and folks living longer now get out more than they put in

Da gubmint has already lost all their money. Do try and keep up.

Well then thank you for my SS payments these last 20 years and thanks for my recent raise

It's so sad you settled for the life the governemnt tells you you should have

""Don't cry for me Argentina or you either skully

I won't waste the salt on you

I just shake my head and pity you

 

[edward37]

And which segment of our population has gained overwhelmingly more than any other these past 30 or so years?/ Don't bother ,,,,,The million and billionaires

If the government didn't waste your SS contributions (confiscations) you , too could retire very financially well off.

But SS is designed to keep people dependent on the government after all we can't have a bunch of financially independent retirees enjoying their golden years can we?

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

 

[Skull Pilot]

If the government didn't waste your SS contributions (confiscations) you , too could retire very financially well off.

But SS is designed to keep people dependent on the government after all we can't have a bunch of financially independent retirees enjoying their golden years can we?

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

If you are retired and don't own bonds you are an idiot.

Equities grow capital
Bonds preserve capital

 

[edward37]

If the government didn't waste your SS contributions (confiscations) you , too could retire very financially well off.

But SS is designed to keep people dependent on the government after all we can't have a bunch of financially independent retirees enjoying their golden years can we?

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

 

[Skull Pilot]

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

 

[edward37]

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

And don't waste your pity skull, give it to the morons who support this garbage in our WH

I'll pity anyone I want to.

That you can't see that SS has kept you poorer than you need to be deserves pity

I was poorer in my 20's early 30's but not since then and that was long long ago

 

[edward37]

What about those who lose all their money ??and folks living longer now get out more than they put in

you don't lose all your money if you manage your investments

and if you had control of your own money you would be getting a hell of a lot more out that the government will give you

see the example I posted earlier in the thread

And when a recession and depression comes along and you lose it???

you really don't understand the market do you?

You only lose your money if you sell at a loss.
Recessions end and the market recovers
If you have a balanced portfolio and the proper mix of stocks and bond for your age ( more bonds as you get closer to retirement) then riding the ups and downs of the market is not as perilous as you have been brainwashed to think

I own zero bonds Just stocks ,,been in the markets for 50 or so years and I'm still learning Brainwashed??Far from it

If you are retired and don't own bonds you are an idiot.

Equities grow capital
Bonds preserve capital

I'm not looking to preserve capital my holdings will take care of themselves I'm looking to grow so there'll be more for my family when my time comes

 

[Admiral Rockwell Tory]

So back to 1982.

The life expectancy at birth in 1982 was 74.36 years. 70.8 years for men, 78.1 years for women.

Today, the life expectancy at birth is 78.69 years. 76.3 for men, 81.2 for women.


Congress only added TWO years to the retirement age, yet we are living more than FOUR years longer now.


It is time to apply some common sense. We are LIVING longer, we should be WORKING longer.

There simply is no comeback to counter that logical, common sense argument.

We need to raise the retirement age to 70, immediately, and index it to 9 percent of the population going forward.

This would go a long, long way toward balancing the federal budget.

Yeah ....no.....raise it immediately to 67......and we'll go from there after Congress cuts some of the royal perks they get.

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

 

[Manonthestreet]

So back to 1982.

The life expectancy at birth in 1982 was 74.36 years. 70.8 years for men, 78.1 years for women.

Today, the life expectancy at birth is 78.69 years. 76.3 for men, 81.2 for women.


Congress only added TWO years to the retirement age, yet we are living more than FOUR years longer now.


It is time to apply some common sense. We are LIVING longer, we should be WORKING longer.

There simply is no comeback to counter that logical, common sense argument.

We need to raise the retirement age to 70, immediately, and index it to 9 percent of the population going forward.

This would go a long, long way toward balancing the federal budget.

Yeah ....no.....raise it immediately to 67......and we'll go from there after Congress cuts some of the royal perks they get.

OK, here we have an example of someone commenting on the problem without understanding the issue.

I just turned 58 years old, but I have 9 and a 1/2 years left until I can draw my full SS benefit.

Let's do the math, shall we? 58 + 9 1/2 = 67 1/2. That's already my retirement age, but you want to RAISE it to 67?

Last time I checked that would be lowering the retirement age.

People comment on these topics yet don't understand even the basics.

Yeah 1 person = everyone....great comp there buddy.

 

[Admiral Rockwell Tory]

Just for ease of writing purposes, I am henceforth going to call the Social Security and Medicare eligibility age the "retirement age".

In 1982, a very cowardly Congress raised the retirement age from 65 to 67. I call them cowardly because the 67 retirement age would not take full effect until 40 years in the future, after most of them were dead. They did not raise the retirement age immediately because they did not want to piss off the voters, and the 20 year olds who would be affected didn't vote in large numbers.

But consider the following facts.

1) In 1935, when Social Security was enacted, the average life expectancy was 60.

2) In 1935, only 5.4 percent of the US population was over the age of 65. Social Security was intended to support those who lived past the average. It was not an "entitlement" for everyone. It was INSURANCE.

3) In 1965, when Medicare was added to the entitlement package, only 9 percent of the US population was over the age of 65. Remember that 9 percent figure.

4) Today, around 15 percent of the US population is over the age of 65.


What this means is that we have an unsustainable trend of a greater and greater proportion of Americans being supported by a smaller and smaller proportion of Americans.

Take a look at this: Social Security History

In 1940, there were 159.4 workers for every Social Security recipient.

By 1960, there were 5.1 workers for every Social Security recipient.

Today, there are only 2.8 workers for every Social Security recipient.

And this trend is just going to get worse.

More in the next post.

After being told all my life that social security is at age 65, I and everyone born January 1, 1960 and after, have to wait two more years.

I missed that cut off by 6 lousy months. Had I been born 6 months earlier, it would still be 65 for me. Just as I was getting close to seeing that end goal, the goal posts were moved on us.

If you want to change retirement age again then do it on people who aren't working yet. Not on us who have spent decades in the work force and are close to that end goal.

Actually it started for those born in 1955, so your 6 months earlier would not have helped you much.

I was born in November 1960 and I have 67 1/2 as my retirement age.