Posted on 01/17/2013 4:26:52 AM PST by Wolfie
Edited on 01/17/2013 5:34:13 AM PST by Admin Moderator. [history]
WASHINGTON - An influential group of business CEOs is pushing a plan to gradually increase the full retirement age to 70 for both Social Security and Medicare and to partially privatize the health insurance program for older Americans.
The Business Roundtable's plan would protect those 55 and older from cuts but younger workers would face significant changes. The plan unveiled Wednesday would result in smaller annual benefit increases for all Social Security recipients. Initial benefits for wealthy retirees would also be smaller.
(Excerpt) Read more at krqe.com ...
My Dad was a barber and worked until he was 80. He was edged out by Vietnamese women who slowly took over the shop. He loved working! It was very social. Old retired Colonels, Generals, Senators etc went there. In McLean Va. It’s where I learned my politics. From guys that were there.
I have no plans to retire. Nothing to do.
Agreed. Raising the age makes perfect sense. A decision has to be made, however. Social security has evolved into a retirement savings program in the eyes of most Americans. In the beginning it involved paying a small 1% payment of income over a lifetime to secure every American would not go without in their final years. Now, with higher life expectancy and growing nanny state views, it takes approximately 15% of our income and will start welll after our working years. As another person mentioned, it is difficult to get employment after 55, so we are looking at people needing something to bridge the gap for well over a decade.
If SS is just a safety net for our final years, it needs to have a very high age to qualify, and a much smaller payment over our lifetime. Alternatively if it is going to be a forced retirement program taking 15% of our earnings, the age cannot go up that high.
So, we will have folks, usually veterans, whose knees and shoulders are deteriorating, limping along, having to work for 13 years in an increasingly physical state of deterioration.
Yeah, it makes perfect sense to me...just like "Logan's Run"!
Ah, the genius of the plan! Give amnesty to the illegal aliens, raise the retirement age to 80 and tax ‘em til they drop. Welcome to the age of slavery.
That’s nice. Not many 70 year old construction workers, though.
Usually veterans? No, it happens to everybody.
Considering that Ryan supports pandering to illegal aliens, that makes anything he says suspect and most likely worthless.
Ryan should be dropped off in the middle of one of his beloved dunghole countries that dump their human trash in America.
Not many 70 year old construction workers, though.”
...my neighbors Dad still works at 76. Worked construction his whole life. Now he drives a truck for the company.
Many jobs that require physical labor become way more difficult to even dangerous.
I really don’t ever want to quit working. I like what I do, I enjoy working. My body on the other hand is hinting that I may need to enjoy it in shorter increments, maybe 3 days a week vs 6.
Why do CEO’s care what age I start drawing SS? They care because they tack SS on to their retirement package to make it look bigger. Just another manipulation by the fortune 1000.
HA-HA, I was on to him long before that and wasnt impressed when Romney picked him.
He was sold as this conservative visionary, but I saw him as just another GOP tool, neither special or evil.
Yep, the Ryan vision has us standing on line behind Dreamers (illegals) to get O care when we turn 65.
One is not many.
Right. Aren’t we going socialist? If so that means 4 day work weeks, early retirement, shared mediocrity, crappy obamaphones.
How may of these CEO’s are outsourcing?
Throw them off and ignore them.
For those who are left: Why are those who are outsourcing even in the same room?
We must stop destroying America.
Nuts. Those CEOs can start by eliminating their own “golden parachutes.” They drive corporations into the ground, then, escape with intact separation packages worth millions. Everybody else gets thrown into the street with nothing...or work until age 70? Not listening to them.
We are allowed to save for our own retirement through IRAs. I don’t even mind putting into social security if I thought I was going to get something out of it. What gripes me is that after a life of saving, someone is going to decide I should work longer and have less so that a bunch of freeloaders can have handouts. Changing the rules at the end of the game, or in the middle for that matter is a major problem. People at retirement age have been planning on the rules they were given for their whole career.
Whatever comrade..
Wow, you sound like a liberal when you talk like that..
Seems like a start to me, although I’d go further and simply declare Social Security and Medicare to be means-tested WELFARE PROGRAMS once and for all.
After all, they are already welfare programs, in that they are transferring the earnings of one group of people (the workers, and even worse, their kids and grandchildren) to another group of people - those that have already retired.
Now if Al Gore’s Lockbox was still there, things would be different, and they would be funded retirement programs - but things are what they are. So it’s no different than Food Stamps today, except the only requirement for qualify to have access to my kids’ future earnings is age.
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.