I prefer retiring later, because I enjoy working and think it is good for us to work.
2007-10-24 16:56:10 · 9 answers · asked by don1862 4 in Business & Finance ➔ Taxes ➔ United States
I am not sure, but here in Canada..I would like them get rid of all the bull, and cut all the bull (blank) programs at cost us millions!
but they say we need to pay someone 5 million dollars to do something that really costs less then a million!
If they did that we all would be ok, but as it sits the poor get poor and the rich get richer!
and soon no one will be able to retire!
I mean look at all the older people paying twice for medicine and having to eat, well we will leave it at that!
I hope one day I might be able to retire!
2007-10-24 17:10:48 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I'm honestly not sure which i would choose. I'm bitter about the fact that I pay, what I believe to be a lot of money, to a pool of money that will not be there when I retire if they do nothing about social security. I'd prob go with higher taxes just because I don't know what health my body will be in when i get to retirement age...at this rate it will prob be 80 by the time I'm ready to retire.
2007-10-25 00:07:52 · answer #2 · answered by smile4me4161 2 · 0⤊ 1⤋
Gradually remove the cap and increase the eligibility age.
Also, fund part of it from general tax revenues, like other government programs are funded. The only reason future shortfalls can be predicted is because of the unique SS and Medicare taxes on earned income. Everything else is funded by general tax revenues, and that usually results in a deficit anyway.
2007-10-25 12:04:11 · answer #3 · answered by r_kav 4 · 0⤊ 0⤋
It is probably time to raise the retirement age. The original age, 65 copied the age that Germany started using for its social security system in 1880. In 1936, when social security started, average life expectancy was about 61 compared to about 78 now so we have many more years of retirement than our grandparents.
2007-10-25 00:47:00 · answer #4 · answered by Anonymous · 0⤊ 1⤋
I think later benefits, rather than later retirement would be OK.
I plan on retiring at 50-55yo. But I am planning to have savings to keep me going until SS kicks in & at that point I would derive less income from savings.
I plan on being an active traveler when I retire. I'll spend the money on trips as/when I have it. But as I get older & that became less feasible, an annuity will be a far more sensible option.
2007-10-25 00:06:06 · answer #5 · answered by dryheatdave 6 · 0⤊ 1⤋
I rather contact my elected representatives in Washington DC and inform them to stop messing with Social Security and quit borrowing money from it. I am also for removing the cap for wages regarding Social Security payments. All earned income regardless of amounts should be consider.
2007-10-25 18:31:09 · answer #6 · answered by Gary 5 · 0⤊ 0⤋
Pay higher taxes, by way of removing the cap on SS taxes. SS tax currently stops when wages exceed the annual ceiling, currently $97,500. Removal of this cap will significantly improve the financial health of the SS system.
2007-10-25 00:36:58 · answer #7 · answered by Bostonian In MO 7 · 1⤊ 1⤋
Later retirement, and lower benefits, will probably have to happen at some point.
2007-10-25 00:07:23 · answer #8 · answered by Judy 7 · 0⤊ 1⤋
pay higher taxes
2007-10-25 01:00:54 · answer #9 · answered by Anonymous · 0⤊ 1⤋