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 ...
Another case for an FR ‘Like’ button. We put away a goodly percentage in our 401(k)s, but if I had the 12.4% from my and my employer’s ‘contributions’, I would be able to retire easily years ahead of 70 or 67 or 65....Seriously. Take your yearly SS form that tells how much you paid in over the years and use your computer to find how much the S&P 500 went up or down over the years you paid in. Starting with first $150 I paid and the $150 my employer paid in and the resultant increases over the years, until I retired, would have netted me about four million dollars. Of course, the politicians wouldn’t be able to spend MY savings on vote buying schemes.
No problem.
:D
20 and out retirements in the federal government are long gone UNLESS you start working for the government in your late 40’s then perhaps you could retire after 20. However, you get 1 percent of your salary per year. So you might get around 300 dollars a month for 20 years of work. Most people work 40 or try to to receive 40 percent of their pay to get around 800 dollars a month pension. It is more than what some folks get for sure but it is NOT as good as people believe UNLESS you are REALLY REALLY high up in government which MOST people ARE NOT!
The boat is crowded but welcome aboard, anyway.
I registered to vote at 18 in 74 and registered republican.
The reason why = because I had worked since I was 12 and knew I was getting screwed on taxes and that SS would not be there for me when I was 62.
But what they heck. That life under a tyrannical oligarchy
Hey I paid into their corrupted SS system all my working life. I’d like to start receiving the payout benefits come age 65.5 and I can supplement my income with PT work or a side business of sorts. I would rather not be in the daily grind of working full time past that age. Just about 5 decades of paying in when I get there-—
HA, they want the age increased, but they won’t hire anyone over 40. Their words and actions do not mesh.
I am surprised the feds are not offering buyouts with all the trillions they are spending.
It would pump a heck of a lot of money into America
Lower the Social Security tax to 3-4% with no upper income limit.
let the teachers and the bankers and the secretaries work till 70...
in principle I agree with postponing retirement, but lets do it for the military and all the govt jobs....
no one should be collecting anything before age 60 minimum....
and I think we should index....pay everyone who has paid into SS everything they paid in, but then INDEX it all to your other govt pensions....so those $100,000 a yr govt retirees will at least not be raking in any more....its obscene and insane as it is....
My friend she worked for the SS Dept. for 30 years. Recently retired at age 60 and collecting 80% of her highest salary in Govt. pension payouts. Good for her but bad for American taxpayers.
Ralph Wilson owns Buffalo’s stadium? I thought it was owned by Erie County and just leased by the Bills?
what kind of work did your parents do?.....working primary care nurse in a extremely busy acute care hospital is not a job most 40 yrs old could handle let alone a 65 yro.
The degree to which these CEO’s are actually playing into the stereotype of them the Left is circulating is indeed a frightening, vexing problem.
I'm a landlord with good income. I have a small film production company that generates revenue. My wife is a six-figure person so I will have to pay taxes. But, I'm putting myself on the SS payroll before they cut it down or off. I will invest the net and make it work for me.
Gee, I wonder why a group of CEO's wouldn't have recommended that? Puzzling.
why these dumb arse CEO's would want to further destroy the private sector worker while not saying a word about the INSANE and OBSCENE govt pensions starting at after working just 20 yrs for many is very suspect...
To that point, does anyone cringe when they hear advertisements from supposed "Social Security Advisors," who tout strategies to "maximize" your SS benefits? That's the last thing we need right now...people not only being entitled to benefits we can't pay out, but they're maximizing the amount that we can't afford!
I only linked to your post because some "advisors" would suggest that many people wait to apply...for maximum benefis.
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