GOP faces internal battle over raising age for Social Security

[mystery-ak]

 GOP faces internal battle over raising age for Social Security
by Alexander Bolton - 03/22/24 5:30 AM ET

Republicans are battling among themselves over whether to push reforms to reduce Social Security spending, with some conservatives rallying around the idea of raising the retirement age.

Republicans pushing reforms to Social Security argue that raising the retirement age would not cut benefits and would be phased in slowly so as not to affect people near retirement age.

But others in the party warn that talking about delaying Social Security benefits in an election year is political malpractice and would give Democrats a golden opportunity to accuse GOP candidates of wanting to cut Social Security.

“Horrible idea. Totally opposed to this,” Sen. Josh Hawley (R-Mo.) said of raising the retirement age, even for people who don’t plan to retire soon.

“What a terrible idea. If Republicans want to be in the minority party forever then go ahead and endorse that,” he said. “Republicans are so stupid. If they want to go to working people and say, ‘Congratulations, you have paid into this your whole life — your payroll taxes — and now we’re going to take part of it away from you, we’re going to make you work even longer than we said beforehand,’ I just think that’s the stupidest thing I ever heard.”

Republican calls to reform Social Security got fresh attention when the House Republican Study Committee (RSC), which includes more than 170 GOP lawmakers, released a budget plan this week calling for “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.”

more
https://thehill.com/homenews/senate/4548486-gop-faces-internal-battle-over-raising-age-for-social-security/

[Fishrrman]

Not.
Gonna.
Happen.

[Smokin Joe]

Not.
Gonna.
Happen.

Already has. When I started paying in, it was 65.
When I hit 'retirement age' (full tab), it was 67 and 4 months.

You can signup early, but that will cost you every month for the duration (of your life).

Medicare remains at 65, and if you sign up late, they charge you extra.

With longer lifespans (it will be interesting to see the effects, if any, of COVID jabs on that) I can see where retirement benefits might be moved out a bit, but it is likely better to get folks paying into Medicare sooner. Move one down toward 60 (with more reduced benefits), and the other up towards 70.

I always figured the way out was to inflate the currency in hopes the taxable base would expand with higher wages, but that has gone overboard, and much has been lost to technology changes that further reduce the number of employees. Funny how the Dems keep pushing for higher wages on one hand and then mob the country with more illegals than the population of half of the countries in the world. Source: https://www.worldometers.info/world-population/population-by-country/#google_vignette

[Hoodat]

The only way to 'save' Social Security it to remove government from the equation.  Allow people to opt out now to reduce future liability.

[Smokin Joe]

The only way to 'save' Social Security it to remove government from the equation.  Allow people to opt out now to reduce future liability.

Especially with newcomers to the work force.