The SS tidbit I haven't seen in the press is younger than 52 your retirement age is already 67.

[hootinholler]

Last edited Sun Dec 30, 2012, 07:06 PM - Edit history (2)

Is that for anyone born since 1960, the retirement age is already 67!

Full retirement age (also called "normal retirement age&quot had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.

The 1983 Social Security Amendments included a provision for raising the full retirement age beginning with people born in 1938 or later. The Congress cited improvements in the health of older people and increases in average life expectancy as primary reasons for increasing the normal retirement age.

What will they do? They gonna bump it up to 70?

Back in '83 St Ronnie sold this load to the people and they didn't touch the income cap to pay for it, they bumped the withholding for everyone below the cap.

The obvious answer is as suggested by Bernie The Grey of Vt, to simply lift the cap and tax all wages, which kicks the can another 50+ years.

[Freddie]

1. Yep, another of St. Ronnie's gifts to the people

[Skittles]

2. all the assholes who voted for reagan

reaped what they sowed - bringing the rest of us down with them

[CTyankee]

4. Only some of them are dead and so now the "rest" are reaping what THEY sowed!

That's what is so very sad.

[union_maid]

3. Very true

It's 66 for me and I was born in 1949. That's really already too high for lots of people. Raising it further is not a feasible plan. We do live longer, but the ability to keep working does not always go along with longevity.

Of course, you sometimes can, and many do, get SSD if you're physically unable to do your job any longer. And the older you get, the less that's required in the way of retraining for something else. Age is factored in. My husband is on it. The catch is, of course, that it takes two years after that to qualify for Medicare. Husband is on my insurance and we'll probably put him on Medicare this year, but if you don't have an option for coverage, you're pretty much screwed. Hopefully, when Obamacare fully kicks in that will be at least somewhat ameliorated.

[pa28]

5. Obama "re-endorsed" the idea of lifting the cap as recently as October.

Obama Revives Social Security Idea: Raise Payroll Tax Cap To Replenish Fund
http://www.huffingtonpost.com/2012/09/21/obama-social-security_n_1903773.html

IMO we need to spend down the trust fund as was originally intended in order to return that money to working Americans. However, if politicians insist on "fixing" a non-existent problem raising the cap seems to be the best of a bad lot of solutions.

What happened to the option of lifting the cap? Nobody in the administration has even mentioned it since the election.

[RB TexLa]

6. It's not like the full benefits age has been hidden. It's published by the SSA.

[Sheldon Cooper]

7. Mine is 66 years and 8 months.

I have another twelve years to go before I can retire with full benefits. I'd retire at 62 with a reduced benefit if I could get Medicare.

[PeaceNikki]

8. Here's the other thing for the right now. wouldn't we open up a lot of jobs if we get

Baby boomers to retirement sooner? Like now? If we lower the age for Medicare at least, I think a big number of folks could retire, opening those jobs for the rest.

No? Or am I only thinking of my parents and many they know?