I think this old boy's got a point.
Lies, Damn Lies, and Statistics
Tom's note:  The largest increases in “average life expectancy†are actually due to a lowering of childhood death. Old people really aren’t living that much longer than they did when Social Security was originally established. And those who do live longer are primarily in the top half of income earners. Interestingly, the tax that funds Social Security is capped, which means that the lower income earners, who aren’t living as long, are effectively paying for the longer retirement years of the upper income earners. Only in America.
recommend
Facebook
Twitter
bookmark 
print
Comments: 32
Saving Social Responsibility
There is no need to "fix" Social Security in order to continue the level of payouts that
recipients have grown to expect. The problem here is not in the program, but
in the demographics. Of much more concern should be the lack of labor force
in comparison to retirees, leaving too few people to take up the work that
will need to be done (especially with such a large retired community in need
of services), and thus also lowering the tax base. As many people are indeed
more able to work for longer years, the rationale for raising the retirement
age would be to keep more people in the workforce doing the work. However,
this could also be accomplished by immigration policy to bring in more
younger workers. In light of the oversupply of unemployed young adults in
much of the world, such a policy could also work to the advantage of the
U.S. in international relations and other foreign policy concerns.
My big peeve about the Social Security system is the cap on income eligible
for payroll taxation. If we took the tax all the way to the last dollar,
there would be plenty available to seriously lower the percentage of
taxation, taking more of the burden off of the lower paid workers. I am sure
that there are other positive changes that could be made to improve the
system and better serve the social function of taking care of our old and
infirm in a manner that honors their social contributions and affords them
respect.
Somebody needs to take a better look at cost of living reality.
And they ignore cost of healthcare (ignoring the fact that that is where prices goes.) Did you notice they went up for every area?
But, don't worry. Congress used the same charts and they ended up getting a COL this year - nice of them to vote not to accept it, huh?
Elsie, I don't do AARP health plans. I can get a cheaper health plan - with the added option for prescription - for markedly less than AARP's basic plan.
Then again, I think this is another factor in the eschewed stats - poorer people die earlier, because we can't afford medical care - Medicare included.
As for raising the age for retirement? They don't plan on doing that for decades, and frankly, since hubby and I are disabled - where we change automatically to regular SS at retirement age, our Social Security income will go down drastically when we hit retirement age - which is coming soon for hubby.
I am 58 in my icon, August. Now 59. Back to the fresh fruit and veggies.
Lee, I hadn't thought about Jack La Lanne - and especially Elaine - for years! Thanks!
He was my hero in the 6 a.m. exercise class before I was even in Kindergarten. His first wife did not last long, but he is a good and solid man. I hope he makes it past 100. He's joked that tugging his wife Elaine across the bathtub would be his next feat.