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if you are not yet collecting social security and are over the age of 40, what do you think is a fair age for someone to be allowed to retire and collect this government benefit?
As long as Social Security exists, the year that someone qualifies to recieve it should be based on the type of work that they were employed in as well as the amount of years they paid into the system.
If a standard year that someone can begin recieving Social Security is 65, then that is great if someone has a pension that they started getting in their mid 50s and/or someone with a proffessional job in an office or administrative position in the corporate world.
However, having one age for everyone hurts people that might be old and still working in a career / job that they are not able to work in as they got older like in their early 50s. An accountant or lawyer can easily still work to 65 years of age and then recieve Social Security, but if you take a person that worked manual labor from about the age of 20 to 50 and does not have any other skills, then they are still a decade and a half away from recieving Social Security that they paid into for 30 years if or when they are physically unable to keep performing the same type of work at or about 50 years old.
If you earn more than your SS, you have to pay back half of the overage. That's only for the first year.
It was my understanding this was eliminated during the Clinton years because they wanted people to keep working because the economy was short of workers. Obviously not the case today.
Location: Just transplanted to FL from the N GA mountains
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Quote:
Originally Posted by GuyNTexas
That's all very impressive, but you've lost the majority ... assuming that they might actually want to learn something ... and that is a remote possibility.
So, let's simplify this ....... the moment ONE DOLLAR is created, with interest attached ... you already have debt you cannot pay. If the interest is 5% ... that's $1.05 owed ... but only 1 Dollar exists. Where does that extra 5 cents come from? The answer is ... that nickel doesn't and never did exist, so that .05 cannot be physically repaid. Multiply that by Trillions, decade after decade ... and that is a lot of nickels owed that can't possibly be repaid.
If there was a big giant balance sheet somewhere and every single dollar that had been printed was accounted for and it had to stay in balance then money becomes finite. But, we all know that what we're truly talking about here is nothing more than numbers on a piece of paper.
The fact is though, when talking about Social Security, there would have been a LOT more people who would have been able to fund their own retirement better than what our government has forced upon them.
not sure sounds like u want to discuss fairness not social security.
fairness from whose perspective?
I remind you of the OP's request.
Quote:
Originally Posted by snooper
If you are not yet collecting Social Security and are over the age of 40, what do you think is a fair age for someone to be allowed to retire and collect this government benefit?
(Currently most people start collecting at the early retirement age of 62 and get 70% benefits for filing early)
Lets have this a discussion on the logic and fairness rising the retirement eligibility age for Social Security for people who are currently 40 years old or more, ONLY. PLEASE no general discussion about what you think about Social Security as a concept, just what you feel is a fair and logical eligibility age for someone who is forty or older today to eventually collect Social Security Benefits. If you were in Congress would you eliminate the ability to collect benefits as early as 62? Would you immediately raise the retirement age? Or keep it as it is? What is the fair thing to do about the retirement age?
A lot of really scary posts in here from people that want to make massive changes to people at the 11th hour of their working carreer.
Especially some of the crackpots talking about means testing reductions.
Why should Joe and John whom worked the same jobs but lived different lifestyles....now John has a nice 401k saved and Joe drove nice cars, vacations etc....so you take away Johns social security to make things "fair".
Last edited by stargazzer; 11-27-2012 at 11:36 AM..
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