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Senators are considering raising the retirement age to 70 and are looking at a $1.5 trillion investment fund to overhaul Social Security and stop funds running out by 2032
Daily Mail ^ | 1 March 2023 | NIKKI SCHWAB

Posted on 03/01/2023 4:17:05 PM PST by artichokegrower

A group of bipartisan senators is quietly meeting to retool Social Security before funds run out in 2032.

On the table, according to Semafor, is gradually raising the retirement age to 70 and creating a $1.5 trillion sovereign wealth fund, which would invest in stocks.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; Politics/Elections
KEYWORDS: 200billionforukraine; nikkischwab; socialsecurity; ukrainepensions
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To: artichokegrower

If they raise the age, they need to eliminate the Windfall Elimination Penalty and the retiree working limits. You should get paid for the quarters you work with no penalty. And after you are retired you should be able to work as long as you please and earn all you can.

Thieves.


21 posted on 03/01/2023 4:30:47 PM PST by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up..)
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To: Rurudyne

I think they come up with a “grand idea” & proceeded without thinking about the possible consequences. They decided to ‘help the poor’ with all of these social welfare policies & now realize that it’s too expensive to take care of everyone. So now they have to figure out a way to kill off the excess without being obvious. Too bad. They should have left us to deal with our own lives ourselves to begin with. And ALL OF US should understand that basic notion. We’re on our own & should take care of ourselves & our families without expecting help from any other source.


22 posted on 03/01/2023 4:30:48 PM PST by Twotone
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To: artichokegrower

OR we could let people keep their confiscated money and invest it the way they want to.


23 posted on 03/01/2023 4:31:16 PM PST by ealgeone
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To: artichokegrower
But we keep sending money to Ukraine - including pay for their government officials.
24 posted on 03/01/2023 4:31:23 PM PST by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: artichokegrower

How about cutting the sub-programs that fall under the Social Security program and under the Medicare program????


25 posted on 03/01/2023 4:31:53 PM PST by JBW1949 (I'm really PC.....Patriotically Correct)
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To: 6ppc

Lots of issues, the biggest being ESG. Insider trading I’m less worried about. But still better than the government having all this unfunded liability with no assets.


26 posted on 03/01/2023 4:33:07 PM PST by rb22982
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To: rb22982
...Hopefully it just invest in something like SPY or VTI if it does but yes the push for ESG will be huge...

The way to deal with that is to make each individual account self-directed. Suddenly people will become financially literate and will vote for the best interests of the USA.

27 posted on 03/01/2023 4:33:09 PM PST by CurlyDave
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To: CurlyDave

W tried to do that and no one has brought it up sense, but yes I agree


28 posted on 03/01/2023 4:33:39 PM PST by rb22982
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To: artichokegrower
"Bi-partisan".

That means the Democrats will pass this measure and then blame the Republicans for it.

The Republicans are dumb enough to fall for this trick. Maybe they have accepted their role to be the scapegoats for everything that goes wrong and every unpleasant thing that the government does to people.

29 posted on 03/01/2023 4:33:48 PM PST by flamberge (We don't get the government we vote for. We get the government we will tolerate.)
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To: artichokegrower

It’s really because all these illegal aliens need Free hospitalization, education and FREE SOCIAL SERVICES. That’s why you stupid Americans need to keep working.


30 posted on 03/01/2023 4:34:10 PM PST by COSIllinois
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To: artichokegrower

why does CONgress even get a retirement after a couple years in “service”. Isnt the insider trading and campaign millions enough? Look at the lizard face Cheney. made under 200K a year for a few terms and is worth 44 million, not including bank accounts in the Caymans, Bahamas and where else.


31 posted on 03/01/2023 4:35:46 PM PST by davidb56
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To: artichokegrower

> $1.3 trillion sovereign wealth fund

i.e. government ownership of private companies. How long would it be until boards were required to have appointed members.

Me, I say just raise the income amount taxable by FICA and make that for Adjusted Gross Income and not just wage income.


32 posted on 03/01/2023 4:36:14 PM PST by glorgau
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To: artichokegrower

Vladimir Putin Supports Social Security Remaining The Same And So Does Xi Jinping.

That way they can overcome the opposition and get cuts in Social Security passed.


33 posted on 03/01/2023 4:36:44 PM PST by Nextrush (FREEDOM IS EVERBODY'S BUSINESS-REMEMBER PASTOR NIEMOLLER)
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To: SaveFerris
That's a new concept...

The U.S. Treasury borrows $1.5 trillion and puts it in a sovereign wealth fund that will buy stocks.

What could possibly go wrong?

34 posted on 03/01/2023 4:36:48 PM PST by zeestephen (43,000)
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To: Rurudyne

Why were large communities of homeless not decimated and why did Africa seem to be largely spared while Italy was hit hard?


35 posted on 03/01/2023 4:38:46 PM PST by desertsolitaire (Nothing Changes if Nothing Changes.)
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To: 353FMG

We get up at noon and go to work at one. Take an hour for lunch and then at two we’re done.


36 posted on 03/01/2023 4:40:45 PM PST by Ken H (Trump /DeSantis)
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To: artichokegrower

“ Which would be fair if public employees also would not be able to access their pension plans until the age of 70”
****************************************************************

That certainly sounds fair. But let them access their public pensions as early as age 62 AT AN ACTUARIALLY REDUCED AMOUNT just like social security.

I personally would exclude law enforcement officers (NOT FBI AGENTS) and military retirees from this “early retirement” reduction,


37 posted on 03/01/2023 4:41:13 PM PST by House Atreides (I’m now ULTRA-MAGA. -PRO-MAXI)
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To: artichokegrower

How about just quit stealing money out of the fund and quit paying illegal aliens?


38 posted on 03/01/2023 4:42:36 PM PST by WKUHilltopper
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To: artichokegrower

Hey, here’s an idea: Ukraine will send back our 50+ Billion to support our retirees, they can keep the change.


39 posted on 03/01/2023 4:48:31 PM PST by GreatRoad ('In a time of universal deceit, telling the truth is a revolutionary act' )
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To: lowbridge

Yes, undisciplined spending, wasteful programs, massive redundancy, corruption and a complete lack of accountability are the real problems. We could easily save trillions if there was a political will to do so.


40 posted on 03/01/2023 4:48:46 PM PST by Starboard
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