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Old 06-25-2012, 11:02 AM
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Re: Social Security in America: Writing Off The El

Quote:
Originally Posted by RandyWayne View Post
There is nothing wrong with the reality of the stats you gave, but why is the "solution" more taxes? Why can't the (partial) solution be to simply raise the age limit from 62 back to 70?

Problem solved -at least for another 50-60 years until the Ponzi scheme starts to break down again.
Randy you are way behind the times! Years ago the retirement age was raised for most folks. Instead of me getting full Social Security retirement benefits at 65 my retirement age is now 66 years and 10 months. Virtually 67 years for all practical purposes.

I know you can still take early retirement at 62 but the amount is reduced greatly. I am not opposed to changing that but that is not going to make the program solvent.

This is not a case of big government misspending as the outlay goes to people. The simple fact of the matter is the only practical way to make SS solvent is by either raising everybody's withholding percentage or doing what I consider more fair and just extending the income limit on which SS withholding is taken out.
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