In 1935, the government passed the Social Security Act,
establishing government welfare for retirees and setting a
formal age of retirement at 65. This number is important. In
1935, the average life expectancy was on 61.7 years, but
that included a high rate of infant mortality. A little over
half of people who survived to age 21 were expected to make
it to 65, and were expected to only need social security
for about 12 years before passing away. With many Americans
working in rough conditions, few could work past 65 anyway,
so this was a good age for retirement. People at 65 needed
welfare, and since they were only supposed to live into
their 70s, it wasn’t a huge strain on the government.
https://study.com/academy/lesson/retirement-age-history.html
It makes sense to move the age incrementally to 70 or 72. Obviously this would be for people not yet working and thus not officially “in” the system. Just as we moved it from 65 to 67+, time to move it up to 72 with limited benefits beginning at 65.
I’m 78 yo and am active like a 60 yo.
My grandmother at my age, needed my help to get around.
Your #5. Are you supporting cuts to social security?
Curiously you never hear a word from these people about cutting welfare, or shuttering the multitude of useless government agencies that suck our tax dollars. Not to mention the endless wars and giveaways to the Ukraine.
Unfortunately, the gov scum also added a lot of others to the SS money teat (to buy votes) besides those citizens who were forced to pay in at gunpoint.
the whold US system is corrupt while the rich get richer....
I worked at a non profit for decades and have no defined pension and no retirement medical....
I have 401k that I mostly contributed to with a little bit from my employer....
I demand my SS...
notice they never talk about taking anything away from our public workers, even those who double and triple dip....
Bringing in facts. What ARE you thinking?
About 10 years left before SS payments WILL be cut 25% or so, but people want to avoid taking any decisions now. Retirement age was raised under Reagan and could be raised another year now. We could increase the level at which people stop paying SS taxes. We could, IMHO, start SERIOUSLY looking at how many people are getting SS “disability” payments who are healthy. I’ve got an ex-SIL who looks pretty fit for someone with permanent VA & SS disabilities!
And FWIW, my perspective is one who is supposed to start getting full SS in a year. If I’m honest, they ought to slip that another year. And raise the earliest age of getting SS to maybe 64-65.
The entire point is lost by using the word “welfare” to describe a system workers pay into.