Former Florida Governor Bush recently told CBS News that the current basic retirement age of 65 needs to go to 68 or 70 as a way to sustain Social Security for those now under 40. The Social Security retirement age is based on a sliding scale which takes into account when the recipient was born and whether they want to retire early in return for a reduction in monthly benefits. The current age to begin receiving benefits is set at 65 for those born prior to 1938. Under current law, it rises gradually to age 67 for those born in 1960 or later. Proponents argue that Americans are living longe…Read more
No, eliminate the income cap on taxable earnings and stop spending current funds on other programs instead
Removing the taxable maximum could weaken the link between the amount individuals pay in Social Security taxes and the amount they receive in retirement benefits if benefits are not adjusted upward to reflect tax contributions.
Yes, but I would prefer to privatize it instead
People should just be able to get health care. Our current system is having us give money to insurance companies while they already get funding from the government. And they're entire job currently is telling us no to life saving medical procedures or medicine. Just give people what they need and have taxes fund it.
No, but Social Security should begin a 30-40 year phase-out program. this would allow those with immediate needs to obtain needed benefits while allowing those 30-40 years younger progressively paying less to zero into social security and allowing them time to make their retirement plans.
Social security funds should be distributed at an age based on a formula that accounts for increased age of life expectancy. Future Options should exist not to pay social security and rather invest that money into a personal retirement fund or pay a tax on funds if you choose to cash them in ahead of scheduled retirement age. Not the government's job to make sure there is money for people to retire with, that responsibility should fall to each individual citizen
Social Security was not intended to be a retirement program. Give every child at birth an account worth $5,000 and let it grow toward a retirement nest egg. Do NOT allow the government to be able to spend that money. Taxes would be paid on the original $5,000 when the senior retires and at a reasonable tax rate.
No - many people are finding it difficult to continue physical labor type work even to the existing retirement age. Raising the retirement age will result in many more people filing for disability instead.
NO, and we should transition Social Security funds into privately managed retirement accounts and away from congressional access and IOU's. Social Security withdrawal should be optional so that those who don't need it are not forced to take it, instead they should receive a tax credit for each year that they don't take it.
The social security program no longer functions as was intended. It was suppose to be a safety net for those whose retirement plans failed. Now people are using it as their retirement plan. They should eliminate it.
Social security is a clear and perfect example of a ponzi scheme. This program should be phased out as quickly as possible and retirement planning should be up to the individual. This will increase financial literacy and further promote a strong capitalist marketplace.
No, not all at once, since it will take time to convince employers that those over 65 are employable. We have a serious age prejudice and discrimination in corporations, and need to enforce better age discrimination laws before we raise the retirement age; otherwise we simply create a bigger poverty stricken group, sooner.
No, this will force companies, schools, and other work places to continue to employ workers who are possibly not as able or as interested in doing their work. Many places don't want employees who are only there for a paycheck.
No, people worked a good bit of their lives keeping the country moving during their workable years. They should be allowed to retire while the Quality of life is still advantage0us. Living longer does not mean having a good quality of life.
Raise it for higher income seniors, keep it as is for lower income seniors
People should be allowed to invest the funds taken for Social Security into their own retirement accounts.
While it's true that personal investments can sometimes yield higher returns, they also come with higher risks. For example, those who had private retirement accounts during the 2008 financial crisis saw their savings drastically decrease. On the other hand, Social Security provided a safety net. Perhaps there's a middle ground solution? Maybe a portion of the funds could be invested, while the rest goes to a guaranteed source like Social Security? What do you think of this approach?
No, the social security administration is a dying program and will inevitably increase taxes for regular working Americans, so it should be disbanded and people should be more aware of roth IRA's and things of that sort.
Keep the retirement age where it currently is and allow people to decide if they want to contribute to Social Security or not.
No. It is already too high considering workers pay into the system. It should be paid at whatever age a person decides to retire. There should also be a choice if either contributing to social security or cboosing private retirement plans.
Social Security should be eliminated entirely. Workers should be allowed to opt-out and/or to move their "savings" into private equity accounts and/or cash. An off-ramp from Social Security needs to be established, leading to its complete elimination.
Social Security should be eliminated. People should be able to opt out of Social Security, have their contributions transferred to private equity funds or cash, and an off-ramp for Social Security should lead to its complete elimination.
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