I hated it when Reagan and Clinton raised income taxes on social security benefits to pay for the general budget, It's no better than the phony I OWE YOUs they wrote themselves while spending the SS taxes. Notice they wont call for just cutting the benefits, that would show it's just a welfare ripoff scheme. By taxing SS benefits the people who paid no income taxes (but paid minimum SS taxes ) dont get a cut in SS benefits because they make under the income limit once gain.
But retirement is not a right. Most people throughout history did not fully retire and spend 20 years living large. That is not the norm, and will not be the norm in the future.
What we have is a generation of people that were lied to and believe that the government will take care of them in their old age. That will not and can not happen long term. There just isn't the money to support 1/3 or more of the population with all the benies and Viagra that we currently are. This nation aborted and contracepted the workers that were to replace the Boomer's, and we are about to reap the whirlwind.
My father is 66 years old, and plans to work full time until at least 76 or 77. Not because he has to (he really doesn't) but because he feels it is his obligation to keep active and productive as long as he can. That, and after spending forty plus years as a farmer working full time in a plant is a type of retirement!
Now I know that many don't have the health to do that, and that is fine. I also know that many have the means to not have to do that, and that is fine also. But to expect to live a life of leisure while someone else picks up the tab is foolish at best. The good book talks of man toiling for his bread all the days of his life, and if a man will not work neither should he eat.
Eat your heart out Andrew L. Yarrow, I start drawing in three months at 62. Having survived two years in a war zone and working as a drudge to pay these taxes for the last 40 years, I see no reason to wait. Plus, in just a few years, if I survive, I’ll be living on YOUR SSI payments. Hahahahahahaah!
I probably will live that long but what I will do is take the lower payment, pay the taxes for as long as I continue to earn outside income and invest the gross in a Roth IRA.
Early retirement selfish, unpatriotic