Treasury Suggests Increasing Social Security Retirement Ages (welfare, years, salary)

[LauraC]

I saw this brief article this morning and thought I would share:

planadviser - Treasury Suggests Increasing Social Security Retirement Ages

At the bottom of the article is a link to the 28 page Social Security Reform: Work Incentives Issue Brief 6 from the Treasury Department.

I'm not under Social Security so I have no opinion...but I would if I was.

[texdav]

Really nothing new just as the Breaks committee did a long number of hearings on this a few years ago. In the end Congress really did nothing and is not likely to until several decades past and it gets to where SS gets closer to were pay go doesn't cover cost. That was the position of the Democrats and now they are in charge.

[LauraC]

Originally Posted by texdav

Really nothing new just as the Breaks committee did a long number of hearings on this a few years ago. In the end Congress really did nothing and is not likely to until several decades past and it gets to where SS gets closer to were pay go doesn't cover cost. That was the position of the Democrats and now they are in charge.

I think they will raise the SS age this non-election year.

[Tesaje]

Treasury at this date is not what it will be in few short weeks. The changing of the guard will change such political pronouncements so what Paulson says is meaningless at this late date.

[cdelena]

It is good that they continue to do serious work to understand the impact of these programs in this economy. Ignoring the problems or the continued political sniping helps no one.

My retirement plan was developed around a SS plan that would pay me full benefits at 66 but I can probably find a way to make a one year delay work. What I probably would have trouble with is proposals to 'means test' the benefits as that not only changes the program nature but would then be tinkered with by Congress on a regular basis.

For many of us it is the economy that is the major factor in employment decisions, not SS benefits.

[nancy thereader]

OMG, I have five days before my first check comes so please don't let them start on Monday.

[wehotex]

Originally Posted by LauraC

I saw this brief article this morning and thought I would share:

planadviser - Treasury Suggests Increasing Social Security Retirement Ages

At the bottom of the article is a link to the 28 page Social Security Reform: Work Incentives Issue Brief 6 from the Treasury Department.

I'm not under Social Security so I have no opinion...but I would if I was.

they could start by eliminating ALL welfare, social security, medicare benefits for legal immigrants who come here to this country at advanced ages. what exactly did they ever contribute to the system? yet they qualify for social security, SSI and ultimately medicare. it is a slap in the face to anyone who has contributed to "the system" all of their working years, only to have a johnny come lately immigrant come and get more than his fair share.

[texdav]

Originally Posted by Tesaje

Treasury at this date is not what it will be in few short weeks. The changing of the guard will change such political pronouncements so what Paulson says is meaningless at this late date.

The Democrats will never have the guts to tackle SS as they haven't in the past. Seantor Breaux was a democrt and he got no where . But the next preasdient will be warned about the short fall in the future by teh office of managemnent and budget as required by law and he must respond just as Bush did with a proposal by law.All suddies have shown that eithyer huge payroll tax increases o0r reductions in benefiots are all that will help now has they did the increase age the last time and it hasn't worked. They woul;d probaly have to increrase it to 70 and that won't pass.

[boonelsewhere]

what they should be doing is remove the cap on the SS contribution that will bring some more money to fund SS payout,
i don't think those high paying salary would mind.

[texdav]

That would not raise the amount that is need even then. In the end what I think they will do is to raise the payroll deduction and the retirement age again.There is also talk about setting up some type of tax deduction for more savings.Remember this is a trust fund;be it a trust fund that would be ilegal if not the government running it.