DarkSteven -> RE: Should the age to receive social security be raised? (8/10/2010 5:27:37 AM)
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ORIGINAL: willbeurdaddy quote:
ORIGINAL: DarkSteven This would be completely unacceptable in private enterprise. Incorrect. Retirement age is being raised in hundreds of private retirement plans. Currently it is only from early retirement to age 65, but 65 will move up before too long. Raising SS retirement age is totally appropriate, and I dont think it even needs to be protected for those between 40 and 50, maybe even higher. Demographics of the work force are changing. Fewer and fewer people even want to retire at 62 or 65. The retirement age issue would resove itself if SS didnt provide actuarial increases for delayed retirement. Pay the same benefit to an age 70 retiree as an age 66 retiree with the same earnings history and a good portion of the savings of an increase in retirement age would be realized. I think you misread (or I miswrote) my post. I was not meaning to say that cost cutting did not occur in private enterprise. I meant to say that it never occurs as an isolated practice, without first determining how bad the problem is, what other means could be used, and whether the cuts would fix the problem. The mentality of "We're short money, so we'll cut XX or YY as a short term fix" is the government's way of dealing with this as a one-shot deal without addressing the underlying problems. What really concerns me is that the bureaucracy would survive intact, with all the attendant costs of administering it, while the benefits that it disbursed would be reduced.
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