Posted on 01/17/2023 9:24:09 AM PST by 6thavenue
Republican Rep. Rick Allen of Georgia suggested last week that he would support raising the Social Security retirement age—a policy change that would slash benefits across the board—because people have approached him and said they “actually want to work longer.”
Confronted by an advocate in the Capitol Building and asked how the GOP plans to cut Social Security, the congressman responded, “We’re not going to cut Social Security.”
But seconds later, Allen contradicted himself by expressing support for raising the retirement age, saying the move would “solve every one of these problems”—not specifying what the “problems” are from his perspective.
(Excerpt) Read more at alaska-native-news.com ...
Republicans have no reason to even discuss these things because there’s no political upside to it. Why mess with them? Many of these idiotic things like Social Security and ObamaCare are designed to screw younger people (mostly Democrat voters) for the benefit of older people (mostly Republican voters). It’s best to leave things alone and keep screwing those Democrat voters.
Oh, and they are not going to cut our SS payments. BS. Politicians are politicians. Ripping off citizens of our benefits for which most of us worked from age 18 to age 65 or more. Screwing us in the ground so they can give it to illegals who have not worked a day, or medical benefits, housing, and VOTING ballets to forge and send in to elects Communists.
Good post.
The young people will eventually figure out that they have been scammed—and it is their problem to deal with it as best they can.
I worked until 75...but made just enough so I wasn’t penalized...solved the “boring” part of retirement. Now that I’m 79...I’m glad I’m retired. I have a great hobby that keeps me going.
Nothing is stopping people from working longer. I retired at the end of 2022, and I’m almost 71.
Obama crashed my 401k by $500,000 in 2008. I've rebuilt in the following years, but Biden has now trashed another $300,000 off the rebuilt value vs when Trump left office.
BS.
Look at how fast they come up with money for stupid wars.
The iraq war cost ~ 2 Trillion dollars.
100 Billion+ for Ukraine so far.
The current Social Security Trust fund is ~ 3 Trillion.
They have plenty of money for things they are interested in but never any money for things that benefit the people.
Remember when Nancy said we couldn’t afford 6 billion to complete the wall.
I rest my case.
Social Security is technically a benefit based on insurance payment contributions (as in the Federal Insurance Contributions Act - FICA). When the accumulated payout become more than your ‘contributions’ it’s then just a defined benefit like most any other annuity.
It sounds like a Ponzi scheme but it DOES pay out, like you say as long as the Federal Government exists, even when the influx payments don’t meet the payouts. Ponzi schemes don’t do that (ala Bernie Madoff). Of course, as you say, it all goes to shit if this government fails. :0(
Yep. These idiots barely won the house and are guaranteed to lose it with this type of talk.
Yup. 31 years with my current employer. I'll be 67 with 32 years with the current employer if I retire at the end of 2023.
Remove the cap. So simple and would keep social security for a 100 years. Very easy and justified to do.
The problem is that the “Social Security trust fund” is not a trust fund.
See post 12.
Pretending that it is one does not make it one!
Yep, the trust fund is a myth.
Remove the unjustified earned income penalty, problem solved.
“If the GOP wants to mess around with Social Security, they are free to do so. And it might even help the country. But it will also mint many more Democrats.”
(A) It has to be done, and the key is how the GOP leadership communicates (a) the need and (b) the real changes - what they are and what they are not.
(B) There has to be an approach that makes different adjustments to different aspects, to minimize any adjustment that would otherwise hit one aspect alone. Current wage earners as well as new retirees especially, will have to take changes. A single change in one aspect alone would either be not sufficient or too harsh. Adjustments to mulitple aspects can minimize and spread “the pain”.
Do these idiot Republicans REALLY want a permanent Democrat majority??
That’s what I did. I was coerced into paying into Social Security, so why not get my money back while I can.
You just perfectly described a GOP death march.
“The only way to win is not to play.”
True. There are a lot of entitlements that younger people get that could be cut first. However, the notion that Social Security could get reduced by about 30% holds true on its current trajectory. Eventually, the IOUs will run out, and then they will have to pay less to balance things out.
Otherwise, they will use more printy-money, and that will just contribute to inflation.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.