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From: suzeeq <suzee@imbris.com>
Newsgroups: rec.arts.tv
Subject: Re: Whoopi Snaps At Trump, Says If He Touches Entitlements, "We Could
 Put You In Jail"
Date: Sat, 16 Mar 2024 17:01:53 -0700
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On 3/16/2024 4:11 PM, shawn wrote:
> On Sat, 16 Mar 2024 12:59:41 -0700, The Horny Goat <lcraver@home.ca>
> wrote:
> 
>> On Fri, 15 Mar 2024 04:30:52 -0400, Ubiquitous <weberm@polaris.net>
>> wrote:
>>
>>> There are a few simple facts of the matter with regard to Social Security.
>>> One, we don’t have the money for it: it’s a Ponzi scheme. We don’t have
>>> enough young people to pay for it, and life expectancy has increased. This
>>> means that by 2033, we will in fact be forced to cut benefits or raise taxes.
>>> There is no third option.
>>
> Except there is a third choice that has been proposed for a long time
> which is to raise or eliminate the limit on what income can be taxed
> for Social Security. So currently the base limit is $168,600 so any
> money earned over that amount doesn't get taxed for Social Security.
> Eliminate that limit and there's more than enough money to pay out the
> benefits going forward without hurting anyone.

Yep, that's probably the best solution.

> 
>> That's hardly surprising - when the first old age pension system was
>> established (by Bismarck in Germany) the average German male lived 68
>> years so Bismarck set retirement to last only a very short time. These
>> days average lifespans are at least 10-15 years longer than that so
>> such universal systems have become much more expensive.
>>
>> THAT's where age 65 as 'retirement age' came from. >I< retired at 66
>> but that was more about exiting the family business in a way that
>> assured continuity after a store relocation than any fixed date.
>>
>> (For reasons I'm still unsure of my exit took 8 months rather than the
>> 3 weeks expected - and two months after my wife's passing which caught
>> me by surprise as I never expected to be the surviving spouse)