- 8,707
You know that pegs at right in the FICA range.
Time To Raise Retirement Age
- Thread starter Robert Barney
- Start date
You know that pegs at right in the FICA range.
- 8,707
Call me greedy or angry...but any future raise of the Social Security age should also be accompanied by a current reduction in benefits....The way they are going now the dates they mention when the trust funds are empty (like they aren't now) they speak of being able to continue paying benefits but with reductions...I don't think it is fair to ask todays workers to either pay a higher amount into FICA or continue to have an increased retirement age without current retirees having to give something up as well...I know if reductions don't happen now then on top of probably having higher FICA requirements and Higher Retirement ages that I'll also arrive at retirement age to meet a reduction in benefits....I know I am not counting on Social Security and Medicare but would like to see something for this 15% tax.
- Thread starter
- #34
- 1,405
Glad you called it a tax.
What do you see for all the other taxes you pay - current government services. In fact, currently, many government services are being provided by borrowing money, meaning you are getting more bang than you are actually paying for out of pocket.
Tommorrow and down the road are a completely different issue.
- 8,707
You got me...But I do see benefits from certain taxes, especially on the local level...However Its annoying to watch this money being drained from me to support current senior citizens while I believe it will no be around for myself...call me greedy call me selfish, say I don't care about my fellow man....But lets face it I could definatly be funding my own retirement benefits and disability with these dollars right now.
u are not being greedy or selfish. Greedy would be that you wanted more than u paid for. unfortunately you can't get what you want. i think most of us who earn reasonable incomes just have to realize we are going to be screwed when it comes to entitlements. We will pay much more than we receive and have very little to say about it.
- Thread starter
- #37
- 1,405
That's fair comment. Unfortunately the people who are taking your money, have the same vote as the person (you) who is paying the money. Unfortunately, more and more people are taking, and less and less are paying, and voters have not yet come to the point where they feel bad about using their vote to take from others.
The good news is this won't continue forever. At some point it all collapses, and those who were taking will have nothing to take, and no one to take it from.
- 8,707
I guess part of my anger comes from having worked the 403(b) teacher market in my state...Maine being one of 12 states that teachers do not put into social security instead they have MSRS, which provides a much higher benefit than social security for no extra money (From the teacher) than social security and the dollars go into an account for that person ie if they leave teaching they can and do get to roll over their contributions and the earnings.
yea but the bad news is it likely will last throughtout my lifetime and yours. A few years after my death they likely will realize i have no more money to give.
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