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MLJCARMAN's Photo MLJCARMAN Posts: 7,205
7/29/10 3:29 P

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I don't think that raising the retirement age to 70 is a good idea.. though people are living longer there are many that cannot work that long due to health issues.
I took early retirement at 55 due to stress related health issues and cannot get my SS until 62. raising the age would just make it that much harder on people that do need to retire at a younger age.
I know the govt needs to save money but they need to do away with all the waste and fraud and use the money for programs that benefit more people like SS.
fortunately I am old enough that any changes will not affect me but the kids behind us are going to have the huge deficit to pay off as well as having to work forever. Makes me glad I never had kids but I have a number of nieces and nephews that will be affected by the mess the govt has gotten us into.

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MARGOMCP's Photo MARGOMCP Posts: 8,670
7/29/10 10:30 A

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I think the black male life expectancy rate is low because so many are not part of society and die young as a result. Only 39% of Chicago black males graduate high school. I think the life expectancy rate is higher for that 39% than the overall black male population and, for receiving Social Security, those are the ones who would matter.

I think eventually they'll raise the age but the baby boomers are all together in the 66+ to receive group at the moment; I don't know if they'd break them down further, make the group smaller or what.

People don't realize that when Social Security goes broke, so does the Government's reason for taking it from one's paycheck and people would be able to save and invest that money themselves.


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WANDERINGDOC's Photo WANDERINGDOC Posts: 7,616
6/30/10 8:58 P

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With the increase in life expectancy, it is only natural to move the SS age up. Many people are already working past 65 anyway. My age for receiving full benefits will be 66.

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CATLADY52's Photo CATLADY52 Posts: 13,385
6/30/10 1:34 P

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There is already a schedule in place that postpones retirement age, just not to 70 right away. I was in the last group to reach 65 to qualify. People now have to wait until they are 66. One can retire earlier, just not at the full benefit level.

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BARBBF's Photo BARBBF Posts: 5,066
6/30/10 11:04 A

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Problem is...the life expectancy of Black males in this country is 69.8....which means that the majority of Black males in the USA will not be able to collect full Social Security benefits, although they have paid into the system all their working lives.

Life expectancy for black and white men and women was as follows:

* Black male: 69.8 years
* White male: 75.7 years
* Black female: 76.5 years
* White female: 80.8 years

So White Males may collect SS for 5.7 years, Black Females, 6.5 years, White Female, 10,8 years, Black Males..0 years.

HUMMMMmmmmm




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Edited by: BARBBF at: 6/30/2010 (11:05)
GOODMEMORIES's Photo GOODMEMORIES Posts: 30,455
6/30/10 10:32 A

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This probably would be a good thing. Anyone who was already drawing social security would not have to worry as they would be "grandfathered in" I would assume. It would cut some of the expenses at the very least.

Trying to find the silver lining in all the clouds!

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BARBBF's Photo BARBBF Posts: 5,066
6/30/10 9:17 A

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THE HILL


Top Republican: Raise Social Security's retirement age to 70
By Michael O'Brien - 06/29/10 10:50 AM ET

A Republican-held Congress might look to raise the retirement age to 70, House Minority Leader John Boehner (R-Ohio) suggested Monday.

Boehner, the top Republican lawmaker in the House, said raising the retirement age by five years, indexing benefits to the rate of inflation and means-testing benefits would make the massive entitlement program more solvent.

"We're all living a lot longer than anyone ever expected," Boehner said in a meeting with the editors of the Pittsburgh Tribune-Review. "And I think that raising the retirement age going out 20 years, so you're not affecting anyone close to retirement and eventually getting the retirement age to 70 is a step that needs to be taken."

RELATED ARTICLES

* Boehner compares political climate to 1776

The GOP leader said Social Security was the most important entitlement to reform, though he also pledged Republicans would bring legislation to the floor to repeal and replace the healthcare reforms passed earlier this year if the GOP wins back control of the House this fall.

But Boehner also floated several other reforms to Social Security, paired with raising the retirement age, to make it more solvent. Boehner said benefits should be tied to increases in the Consumer Price Index (CPI) instead of wage inflation, and he suggested reducing or eliminating benefits to Americans with a "substantial non-Social Security income" while retired.

"We just need to be honest with people," he said. "I'm not suggesting it's going to be easy, but I think if we did those three things, you'd pretty well solve the problem."

Republicans have made cutting spending and reforming entitlement programs a key part of their 2010 campaign message.


thehill.com/blogs/blog-briefing-room
/n
ews/106135-boehner-raise-social-secuR>ritys-retirement-age-to-70



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Edited by: BARBBF at: 6/30/2010 (09:18)
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