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View Diary: "Saving" Social Security (46 comments)

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  •  Health, United States, 2011 (4+ / 0-)

    a CDC publication, runs 500 pages, and includes useful life expectancy info by age, race, gender, education and economic status.

    Here.

    By deferring collecting SS (as I did for two years), one makes a bet on one's longevity.  The SSA people have actuaries, you know, so the numbers are crunched to make it all revenue neutral.  Maybe I win out living longer than average; maybe I won't.  Abolishing this option won't actually change anything.  I chose the option simply because my SS benefit would be taxed while I still am working at my own little company.  It encourages me not to shut down as a business.  Please note that my major customer is the Chinese government, and I am a net exporter.

    So I for one believe this option is useful, and costs the government nothing.

    Raising the retirement age, however, is pernicious.  If you look at the mortality figures, the increase in life expectancy is skewed toward wealthier people (and surprisingly, Hispanics!).  Raising the eligibility age will adversely affect working class citizens, and especially those with physically demanding jobs.  Would YOU like to be digging ditches or carrying loads of bricks at age 70?  

    I also dislike means testing.  It just seems unfair to cut off benefits just because you have other sources of retirement income.  Instead tax SS benefits as income, as it is now when total income reaches as threshold.  That is fair.  SS IS INSURANCE, after all!  If you pay in over a lifetime, you deserve the benefit.

    Real plastic here; none of that new synthetic stuff made from chicken feathers. By the morning of 9/12/2001 the people of NYC had won the War on Terror.

    by triplepoint on Tue Oct 02, 2012 at 07:34:04 AM PDT

    [ Parent ]

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