Posted on 06/01/2015 2:49:39 PM PDT by BradtotheBone
(CNSNews.com) - Jeb Bush says he would considering pushing back the Social Security retirement age by as many as five years and scaling back benefits for Americans who paid into the system but who also have accumulated wealth.
"We need to look over the horizon and begin to phase in, over an extended period of time, going from (age) 65 to 68 or 70. And that by itself will help sustain the retirement system for anybody under the age of 40," Bush, a potential contender for the Republican presidential nomination, told CBS's "Face the Nation" on Sunday.
Bush also wants to phase out benefits for higher earners, who have paid into the system for their entire working lives.
"What about means testing?" Bob Schieffer asked Bush.
"I think it ought to be considered, for sure," Bush replied.
As conceived by the administration of Franklin Delano Roosevelt, Social Security was intended to be a retirement insurance program for all working Americans regardless of income, funded by mandatory payroll taxes.
Means-testing would turn Social Security into a wealth transfer program, diverting payroll contributions from those who earn more to those who earn less.
And if Jeb Bush has his way on immigration, some of those lower-income workers would be people who came to the United States illegally.
(Excerpt) Read more at cnsnews.com ...
Are they going to means test Federal State and Local government workers pension benefits as well?
When we talk about Government pensions all the Jack Holes in both parties talk about how a pension is a promise. Not so to the hundreds of millions who are forced to pay into the pyramid scheme that is Social Security. To those suckers a promise is just a lie of convenience.
It’s my money Jeb
What you are suggesting is illegal
Yep, this is where the GOP green eyeshade establishment is - if you work your whole life, save and invest for the future they will punish you by taking away what was promised to you. FU Bush and Republican establishment too.
You bastards robbed me while I was working and now you want to rob me while I'm retired, FU very much!
If they can they will. Don’t give them any ideas! :)
In government there are no promises. Only lies of convenience.
Remember: those who are in power want to stay in power, and they want more of it.
Best news I’ve heard since Jeb announced!
Having dipped his toes in the presidential waters, he has now grasped the third rail.
Who would vote for him? Dems weren’t going to. Conservatives weren’t going to. After this, working people won’t vote for him. That’s virtually everybody!
Add one Month per Year to the Eligibility Age.
Do this for both Early and Full Benefit Ages.
This Year, Age 62, next Year, Age 62 plus One Month. Repeat for 36 Years. Do this until the “Early” Benefit Age is 65 and the “Full” Benefit Age is 70.
Life Expectancy is way beyond what the Models predicted when SS was implemented. Of course, expanding SS into areas where it was never intended to go, (SSI for instance), has rendered it completely unsustainable.
I think the same should be applied to Medicare, topping out at Age 70 adding One Month Per Year to the equation. It would take 60 Years and I can only imagine the Life Expectancy by then. Even adding a Month a Year will save Money and extend Medicare’s viability.
BTW - I am applying for SS at Age 62 this Year. My Medical Condition does not work out for me waiting to Age 66 for my Full Benefit. Have to get it while I can.
My Birthday is the end of July, but I will not receive my first SS payment until the fourth Wednesday of September. That means I will be 62 and Two Months when the money finally arrives, juts in time for my expected Obamacare induced Health Insurance Premium Increase in 2016. It should cover the Increase, or so I hope.
BS on that! I am 64 and between my employers and I we’ve paid in a hell of a lot more than $100,000. I alone, without my employers’ contribution, have paid in a hell of a lot more than that.
People who saved money for retirement get punished. Those who blew it on expensive cars, RVs and lavish vacations get rewarded. What a great idea.
So, Jeb, let’s see if I’ve got this straight. You’re supporting the notion that if I’ve had a big chunk of my money stolen for most of my life with the promise that I’ll get it back when I retire, but that I WON’T actually get it back if YOU deem I don’t need it but someone else who is more “worthy” than me will get it instead?
Isn’t that just a socialistic wealth redistribution scheme built on broken promises and government theft? Oh, and please explain to me again why you are any different than any other DemoKommie and why I should vote for you?
BTW, Jeb, given the above, your ignorant insistence that “climate change” is driven by human activities, and your open borders stance, I wouldn’t vote for you, even if Satan himself was the only other choice.
Means testing is a tax on savings.
I believe if you collect SS, you will be sent automatically a Medicare Part A card. You will then be offered Part B. If you do not take it when offered you will be penalized.
If you are taking SS, it is illegal to be on Obamacare.
“And go back even further to Jimmah Cahtuh giving social security to people who had never worked in this country but came here near age 62 to get the free goodies.”
My rules would be simple:
To be disabled you have to be missing something or unable to move.
To be a survivor you have to be somebody’s spouse or kid.
To get a check in your name you have to have paid into the system for 30 years. If you got here twenty nine years ago - sorry - it ain’t happening!
Nobody else withdraws ANYTHING.
Then SS would become nothing but another welfare program. Why should my wife and I who paid into it be denied because we have saved for retirement?
Ever notice how politicians are always worried about SS running out of money, but never worried about welfare, food stamps, public housing, and Medicaid running out of money?
Lets make sure people die before they can collect and if they manage to live long enough to collect means test them out of it. Whatever it takes right Jebbie?
FUJB. FOAD.
L
This idiot doesn’t even know the retirement age for Social Security has already been raised. I do not get full benefits until I am 67.
I think they have a “hair-cut” in mind for 401k’s. You know, spread the wealth to those who didn’t save. Who bought the $200 sneakers and the biggest TV that would fit. And the fanciest rims. It’s not fair that others weren’t foolish and saved for their retirement.
That’s a huge one. Evertime I’m near the SS office, it is full of foreigners signing up their newly arrived parents to get checks from a system they never paid into.
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