Posted on 03/10/2006 9:05:50 AM PST by presidio9
"And despite the unprecedented wealth of today's 65-and-older population, in 2003 the poverty rate among seniors was 10 percent. But that's lower than the 12.5 percent rate for the general population, and it's a big change from 1959, when more than a third of seniors lived below the poverty level, according to the report."
You really took this as a MSM attack on President Bush?
At 2 1/2, he knew the title cut from A Mighty Wind. A few months back, I taught him a six verse "jody" from Jump School.
Sorry for the bragging...it's just been so much fun watching him grow. He's keeping me young.
But, I thought private pensions were the devils handmaidens and Bush had cut social secutiry and medicare to the point it was making people eat dog food... ??
I'm one. I've been retired for 6 years and am 60 years old now.
I left behind coworkers who were old enough to receive social security but said they couldn't afford to retire because s.s. wasn't enough because they still had mortgage pymts, kids student loans,credit card debt etc.,they will probably work until they die, I have no pity for them.
Hell, I'm not working past 2 pm today!
No it won't. Why work for money when you can vote for money?
My immediate response to your tax scheme is that it is intriguing. There would likely be unforseen consequences that would screw it up (younger people shifting earnings to elders to evade taxes perhaps). The current system, I believe, takes away part of your SS payment if you earn over a certain trigger amount. Your scheme would do the same thing (the continuing workers would forgo SS benefits they would otherwise receive), but adds in an income tax break. As I say, intriguing, but at the cost of further complicating the IRS structure and procedures.
I was GOING to keep working until age 70½, but circumstances came up, where leaving at age 64 became a much more attractive option.
1. I would have had to move, from a remote location where there was a great deal of autonomy, to a structured office environment.
2. One promotion had already been denied, and I had reconciled to the level where I was at.
3. Spouse fell ill, and was unable to work, partly because of illness exacerbated by the locality we were living in (high desert with cold winters).
4. I was offered an obscenely high price for the house I was living in at the time, so being of sound mind, we took the deal and squandered it all happily while moving to a more benign climate (sea level with subtropical seasons).
5. Got to where I can't afford to go back to work now....
Articles like these can be so infuriating. It would be really nice if they could gather statistics on some of the causes. I can think of a lot of reasons both for and against retiring. Many people retire at younger ages because they have worked hard, saved, and invested wisely and now want to enjoy that money. Of those I know in this category, none are depending on SS. More power to them! Some continue to work because they enjoy it. My grandmother ran her own business and worked 5 1/2 days a week until her she was 89. Some retire for health reasons. Some are forced out of the workplace because employers are bringing in younger and/or foreign workers who can be hired more cheaply.
"At 2 1/2, he knew the title cut from A Mighty Wind."
That was a really good movie. That kind of humor cracks me up.
That policy is already in place. I do not have the $$ amounts, but if you are receiving SS benefits and earn over a certain annual income, your SS benefits are taxed at 85%. Earn less and the benefits are taxed at 50% or not taxed.
For people who work 45 of their 65 years, they have paid their dues.....and after 65 they just keep paying.
sp
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
they still had mortgage pymts, kids student loans,credit card debt etc.,they will probably work until they die
It's not the lower income that will keep people working until they're ready to drop dead, it's the debt they've been encouraged to accumulate via our consumerism culture.
With no debt I've been retired for 5 years (not 65 yet) and live on SS and a small savings obtained by moving down out of a big wasteful home to a condo in a warm stable climate. My expenses are near zero. The only sacrifice I had to make is selling out of a high bloated real estate market into a lower cost market in the same state. Debt has kept most of my friends slaves to their jobs. They'll all croak on their jobs still being charged 23% interest on their credit cards, all maxed out to their limits and owing on second mortgages obtained to remodel huge homes and kitchens in which the microwave is the only appliance they use.
Debt will be the downfall of our nation
Yeah, next thing they will be wanting free education and free meals for the ungrateful and bitching young punks who are griping the loudest about the old folks.
Why not. They can legislate for that all they want. If the money does not exist, which it will not in another 15-20 years, it won't matter what benefits are enacted.
Best in Show
Waiting for Guffman
and last, but certainly not least, Spinal Tap.
"Guffman" is truly a sleeper.
I had enough to pull the plug at age fifty. I did but started something entirely new. When I get tired of this I'll find something else to do. When SS kicks in it will be play money.
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