Life expectancy was 61.7 years when Social Security was passed in 1937 !

The Sausage King said:
The Social Security Act was passed in 1935 guaranteeing retirement pensions to all Americans over the age of 65. Sounds like a good deal — except for the fact that the average American life expectancy back in '35 was 61.7 years.

http://www.newsmax.com/ArmstrongWilliams/Social-Security-life-expectancy/2013/11/19/id/537472/

Here's the thing, times change and so must the laws. Today the average life expectancy is 78.74 years. We need to start making it culturally norm to retire at 70, and we need to move Social Security benefits up to 70 as well. There is no way we can sustain this current system.
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Why would we all need to work more when productivity has been skyrocketing for decades?

Almost every economist says that in the next 30 years 3-D printing, automation, and driverless vehicles will erase the job market as we know it.


In a time when machines are going to be doing more then 50% of the work, why do we need to work longer hours and retire later?
 
thefirstemporer said:
I plan to retire by 55. And I don't expect big daddy government to take care of my personal responsibilities that most people today don't.
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This really shouldn't need to be pointed out, but people pay into social security over their working lifetime as part of payroll taxes.
 
The Sausage King said:
The Social Security Act was passed in 1935 guaranteeing retirement pensions to all Americans over the age of 65. Sounds like a good deal — except for the fact that the average American life expectancy back in '35 was 61.7 years.

http://www.newsmax.com/ArmstrongWilliams/Social-Security-life-expectancy/2013/11/19/id/537472/

Here's the thing, times change and so must the laws. Today the average life expectancy is 78.74 years. We need to start making it culturally norm to retire at 70, and we need to move Social Security benefits up to 70 as well. There is no way we can sustain this current system.
Click to expand...

Fuck no. Our country is also a lot wealthier than it was when SS started. Retirement age should be LOWERED.
 
Im going to work till I die, fuck retirement
 
VivaRevolution said:
Why would we all need to work more when productivity has been skyrocketing for decades?

Almost every economist says that in the next 30 years 3-D printing, automation, and driverless vehicles will erase the job market as we know it.


In a time when machines are going to be doing more then 50% of the work, why do we need to work longer hours and retire later?
Click to expand...
Because most of the gains will go to a few and the many will be asked to work longer for less. Yay capitalism!
 
In a way, SS is becoming like SNAP and Medicaid - a government entitlement perverted into a type of subsidy for the benefit of corporations so that they can increase their bottom line by either paying sub-living wages to their workers or not offering them defined benefit pension plans.

Keep in mind that from 1980 through 2008 the proportion of private wage and salary workers participating in DB pension plans fell from 38 percent to 20 percent.

As of 2013, only 2% of private sector workers participate in a DB plan alone. (About 11% are enrolled in some combination of a DB and a direct contribution, 401K style plan).

My grandfather retired with a pension. And his SS check acted almost as a form of bonus cash or extra spending money for he and my grandma. But today my wife's parents have to try and pay all of their bills with their meager, sub-livable SS payouts.
 
The Sausage King said:
The Social Security Act was passed in 1935 guaranteeing retirement pensions to all Americans over the age of 65. Sounds like a good deal — except for the fact that the average American life expectancy back in '35 was 61.7 years.

http://www.newsmax.com/ArmstrongWilliams/Social-Security-life-expectancy/2013/11/19/id/537472/

Here's the thing, times change and so must the laws. Today the average life expectancy is 78.74 years. We need to start making it culturally norm to retire at 70, and we need to move Social Security benefits up to 70 as well. There is no way we can sustain this current system.
Click to expand...
Social Security has always been a scam. Let people invest that money instead.
 
VivaRevolution said:
Why would we all need to work more when productivity has been skyrocketing for decades?

Almost every economist says that in the next 30 years 3-D printing, automation, and driverless vehicles will erase the job market as we know it.


In a time when machines are going to be doing more then 50% of the work, why do we need to work longer hours and retire later?
Click to expand...

Because you cant live on part time hours and wages.
 
HomerThompson said:
This really shouldn't need to be pointed out, but people pay into social security over their working lifetime as part of payroll taxes.
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Yet most people don't have a retirement plan or even a decent savings for that matter. But thanks for pointing that out.
 
Thank god you're not in charge of anything substantial.
 
Hungry Joe said:
Because most of the gains will go to a few and the many will be asked to work longer for less. Yay capitalism!
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I think we have only ourselves to blame if this happens. We need to organize and take our government back,so that it is beholden to people power, but there is no reason having a capitalist system has to end in a new fuedal system.
 
panamaican said:
From what I understand, once you account for infant mortality and war, human life expectancy hasn't changed much for thousands of years. In regards to things SS, I think that matters since deaths to war or infant mortality aren't removing the portion of the population that was paying into SS anyway.
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You don't think vaccines have had any impact on life expectancy?
 
Hungry Joe said:
You actually could if the wages were higher.
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Cost to the employer goes up. He then has a few choices. Raise the price of his goods substantially, reduce the size of his staff.. Either way,, this is a loose loose for the employees, as sure they work less for more money, but the cost of everything, life, is now higher as well, and a good chunk of them are now unemployed.

Sure, emotionally your idea sounds nice, but reality dictates it wont work.
 
is anyone here under the age of 45 seriously planning on being dependent on SS by the time they retire?
 
I am the last generation of workers to get a pension at my company, I feel for a lot of these kids. I'm decent managing my money, but it took a lot of mistakes. I know people who would be ruined if they got a flat tire tomorrow. Social Security is the promise that you will at least have something. The boomers have fucked us pretty good, but we can't go throwing the babies out with the bathwater when it comes to some programs while we pursue more balanced spending.

To be honest, most of these programs used to offer much better returns on dollars spent. Welfare, food stamps, SS, these all put spending power and money into the hands of the people, and that circulated. That money now goes to multi-nationals who can move it around much more easily. That spending power decline can be seen everywhere. When it was easy to get loans and people had more job security, spending was easy. Now you see more and more dollars going to pay off these debts instead of being put back into main street.

If I have a complaint about modern capitalism, and global capitalism especially, it's that it is so boom or bust, and loves a good bubble. Fudge the numbers today, let the next guy get fucked. See how long it can keep going. Hope you get your golden parachute before it busts. Hell, even if it does, you'll just have "experience" and "plausible deniability"! As long as the personal net worth of you and your shareholders finds a way to increase, just run with it.
 
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