Posted on 03/26/2024 6:43:23 PM PDT by RomanSoldier19
My two or three li’l Gen-Z buggers better be working their butts off! I already paid my ante, and I’m still paying it.
You are exactly correct. Mr. Fink should work as a roofer for five years or so. Then I’d have a bit more respect for what he has to say.
Other posters are correct as well. We’d have more money to take care of older tax-paying Americans if we didn’t waste so much on things like supporting gay rights in Pakistan or giving illegals welfare in this country.
Ok people this is the answer:
“The current 15.3-percent Social Security–Medicare tax shall be privatized beginning January 1, _____. These tax monies shall be owned by the taxpayer (payor). During the payor’s taxed years, said funds shall be sent to the payor’s chosen range of mutual funds, which the payor may self-direct. The payor may not withdraw these funds prior to retirement. Upon the payor’s early demise, heirs may inherit the funds by legal process. The retirement age shall be determined by the U.S. Congress, and initially set at age 62The payor’s account shall be identified as a Social Security–Medicare (SSM) account. Typical and appropriate fund manager rules shall apply. The 15.3-percent tax may not be increased. The tax and the retirement age may be decreased by Congress. Transition to this privatized system shall be an option to the payor. The payor may choose to transition Social Security tax monies only and not Medicare tax monies, or not transition to private accounts at all. This legislation shall not expire, and is not subject to judicial review despite conflicting decisions of any kind.” my source:
https://www.americanthinker.com/articles/2024/03/the_cure_for_poverty_isnt_so_hard_to_find.html
As a result, Fink said it is worth taking a look at when Americans are expected to start accessing Social Security benefits, typically a sensitive topic that no politician wants to touch. He noted potential solutions including either raising the age for benefits or finding ways to encourage working later.
Whip the horses eyes Mr Fink.
.
65 is crazy. No way did I want to work until 65. I retired at 60, which was almost 10 years ago, and have never regretted it.
If they would have left just 1/4 of SS as a designated interest bearing fund instead of funding it all from the yearly general budget fund. But DC has been and still is run mostly by incompetent hacks.
he is well-named ... for several reasons ...
Bingo! Exactly why old Larry loves this proposed laws, he and his buddies will be significantly enriched. And I’m sure the correct politicians will certainly vacuum up the crumbs Larry and the boys brush off to them.
Yeah Larry, retiring at 65 is a real pipe dream, it’s as laughable as that ESG garbage you push into the boardrooms across the globe.
Sorry, but I want some years of mobility to be a part of retirement.
These people wish to work us with their hands in our pockets for all of eternity.
> 65 is crazy. No way did I want to work until 65. <
I had a stressful job, urban public high school teacher. I don’t think I could have worked until I was 65. I would have had a breakdown first.
An older teacher I knew tried to make it until 65. She quit at 62. I asked her what was the deciding point. She said it was when she noticed her hand shaking every school morning when she was having coffee.
People born in 1980 retire at 69
People born in 1990 retire at 72
People born in 2000 retire at 75
People born in 2010 retire at 78
People born in 2020 retire at 80
Does that help? I do not think people born from 1979 to 1900 should have a change since it already went up to 67.
but what is really killing senior citizens is two things...property tax and the fact that all that money you saved/invested in your retirement has become just another honey pot for the govt...you get taxed on any money you take out...
so here locally, you can get some kind of property tax break if you don't take in too much money and you're older....but if you need some money...new roof, car, health care etc...and take some retirement money out, your income looks greater and there goes the property tax relief....
you can not win....
Theft
If people thought about the money they would have if they invested the money they paid into SS for 35 years into a Mutual Fund there would be a revolution.
The King is a Fink
He’s a Rat Fink.
Well, I do remember that. Of course, when the gov’t fixes a problem it caused it is never fixed right. You know what I mean.
And larry Fink?
We are not on our own? Hell no!!
We have to pay for all the 5hit the BlackRocker lobbyists get in the legislation.
We are thoroughly effducked. And that lie that ElFinkbo told means more taxes are in view.
There has been some movement already. A former relative of
mine (who shall go unmentioned, LOL), could not retire until
67, so there has been some movement. I don’t think it is
unreasonable to move that up further.
I’m 72 years old right now, and I’m working part time again.
If I’m going to do it, others can, up to at least 70 or
perhaps a little beyond.
There is one caviot in this. Only Seniors should get S.S.
Only Seniors should get Medicare. They paid into it, and
they should get the return.
I am fully in support of government allowing folks to
put away money to retire on, but I do not approve of the
government setting up so many traps along the way.
Fines, bogus early cash out penalties, it’s the taxpayer’s
money, and they should be able to use the funds as they
see fit. Paying taxes due is reasoned, but at a reasoned
rate only.
I’m reading all of these pissed off responses to social security and what age to collect and here we are in a country where 63% of households do not have the financial discipline to save/set aside $500 for an emergency, 46% have no retirement savings at all. And these people want to talk about retiring at age 62 and think in their wildest imaginations that the $1900 per month they will get will sustain then for 20 years of retirement.
The stupidest thing the government has done was to allow people age 62 to collect social security because people equate collecting SS with being retired. It doesn’t work that way. On the other hand those who save up and have the ability to exist financially can do that, those who have made no provisions, have no savings and a ton of debt should not even think about it and use that time to climb out of their debt hole. A large number of the brethren have a much bigger problem than collecting their SS at age 62.
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