Social Security
twentyfive
Living well and enjoying my retirement
Looking at what’s going on in France do you believe that American politicians need to worry about making modifications to our Social Security and Medicare programs
I think they’re going to watch French elections very carefully any hint of Macron losing will have a profound impact on the direction this issue takes.
I think they’re going to watch French elections very carefully any hint of Macron losing will have a profound impact on the direction this issue takes.
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22 comments
It's a question of when and how painful it will be.
The US really needs to reform it's disability SS pensions. Many people keep it even after they heal up and can work again. Many people who need it can't get it, because they are arbitrarily rejected. People would be more OK with raising the retirement age if they had confidence they could get disability if they needed it.
Raising Federal minimum wage would also mean more SS taxes paid.
For example an accountant or a clerical job that is mostly performed in mild conditions without great physical strain can be performed well into your senior years as opposed to a construction worker or perhaps a delivery driver, who not only needs greater strength and stamina, but also takes a harsher toll on your health cannot be sustained past a certain age.
Look at what’s happened to California, that only took a few decades. That was the very best of the first world to now it’s just a fucking joke. NYC Bloomberg years might aswell have been an eternity ago. Chicago and Philly have gone full on third world. Portland, Seattle, SF, LA? I don’t know what the fuck that is. I’m done, we’re just too fucking stupid. Now let’s all watch AOC get re-elected.
Medicare: More strongly opposed to raising eligibility above 65. Try raising Part B and D IRMA payments before tinkering with eligibility age.
Your missing a major point, Social Security and Medicare are entitlements which we paid for while we worked, the bastards in congress raided the funds that were supposed to be set aside for those that paid in and were promised a pension in their older years. They stole our money to pay for things that they didn’t want to pay for themselves. That’s always been the problem with our government they control bundles of money that belong to others, yet they act as if they’re entitled to do what they please.
These spendthrift’s belong in jail for their misappropriation of monies that don’t belong to them.
1. We need to shrink government
2. We shouldn’t cut programs that benefit anyone in the audience
That summarizes our situation. We’re doomed.
People will reluctantly accept these cuts but not if other government programs are treated as sacred cows that can't be touched. There will be a feeling that everyone needs to share the pain. The military budget will be reduced, and the country will move away from an interventionist foreign policy. By then it will be more evident that going to college is not a guarantee of a middle-class life and both direct and indirect subsidies to higher education will be cut too. Other government programs will also face funding reductions.
Wrt MC, above a certain income, beneficiaries pay IRMA for part B (and part D if applicable). There are 4 or 5 different tiers (above $85K for single filers, highest tier $500K or more) with each higher tier being socked ~ 1.5K/yr more than next lower tier). Speak for yourself about sharing the pain doc. If I've paid into the system, I damn sure don't want a 50 - 100% benefit cut to subsidize the slackers. Just what income level would you consider wealthy, doc ?
Even in the 1930s, that was a lie. It has always been a form of wealth transfer with younger people supporting older people. That works fine as long as there are 10 young people working for every retiree. It’s now close to one for one.
That’s also why it will be so difficult to reform since people think there is an individual account with their name on it somewhere.
Caveat:. I am 71 and collecting a pension, so I may be biased.
In Japan, people sometimes officially retire and then stay on with their employer in a part time job. I wouldn't mind doing that. I'm almost 67 and keep working because I like helping people and working with computers. I also feel a need for some social interaction and can meet that need by interacting daily with coworkers along with occasional visits with friends, family and stripper regulars. One scientific study found that people who work past 65 actually live longer.
The best ways to shore up Medicare and SS are to reform and shrink the government. No more federal pensions, they all get 401k's and IRAs like the rest of us. No more subsidizing the NEA, PBS, NPR. Cut the NIH, fed Dept of Educ., and others. No more extended benefits for travel and so on. There is so much waste at the federal level, that's where cuts should begin.
It is sickening - as an adult who’s had money taken out of my paychecks since my teenage years, whether I need it or not when I retire, it should be available to me.
Either we implement broad tax increases or cut the above.