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Showing Original Post only (View all)Social Security and the life expectancy meme: the age of SS cutting is upon us again. [View all]
We are going to be hearing about how the "life expectancy" in 1932 was so low that by 2024, the SS system would, logically, go broke if people started using their funds at age 65. Because the average life expectancy has gone up so much, we don't even live in the same world anymore. So, it's time we panic, logically, and throw out the baby with the bath water. (an interesting adage considering the subject of child mortality). We MUST immediately raise the age of retirement drastically!......Suckers............. The American public fell for that crap once. That's why my sister hates that I could retire at 65 but she must carry on until she's 67.
2 things:
1. The age of concern for retirement is not "life expectancy" but life expectancy at the age of retirement. There is no great difference between the life expectancy of 65 years olds in 1932 from those in 2024. It's about 10-15, not the 25-30 "conservatives" will try to cite in their ceaseless, underhanded effort to swindle workers out of the ONLY real means they have to retire before they die in the streets.
2. This fact of statistics is not lost on the SSA. The "A", meaning administration, indicates there are people working at the SSA who deal with statistics for a living and recommend adjustments which may be required to sustain the Social Security System. That's why it "a pretty damn simple rise in maximum income level for SS levy would fix it for a long time, easily and painlessly", is a FACT.
Edward Rutledge lives on in the heart of every Republican.