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Politics : The Citizens Manifesto
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To: TimF who wrote (141)6/17/2005 10:42:18 AM
From: Road Walker  Read Replies (1) of 492
 
re: No one is arguing that people shouldn't be able to retire at 65. I am saying that there isn't some right to demand that the public support you from any particular age, for the rest of your life.

Well, remember these people have been contributing for their entire lives; at some point, if they live long enough, then they start getting more than they paid in (plus interest earned). So society isn't supporting them from the get go.

The retirement age is arbitrary. At 65, some folks are real old and some folks are relatively young. Right now, you can retire at 62 with reduced benefits, and the longer you wait the higher your benefit until it maxes out at 67 (I think). If you raise the age for receiving full benefits, then you should leave the early age of 62 alone... and not give a huge benefit penalty for over 65.

re: I don't actually endorse increasing the cap to a million. I was just putting the idea out there. The only way I would really seriously consider supporting it is in exchange of a FICA tax rate reduction. Otherwise you are getting a huge tax increase, and there is just about no way I will support any large tax increase.

Raise the cap to $1Million; raise the tax .5% on empolyee and employer, change the COL adjustment to an average of wage and price inflation. Revisit it in 10 years.

John
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