Senators are considering raising the retirement age to 70 and are looking at a $1.5 trillion investm

[mystery-ak]

Senators are considering raising the retirement age to 70 and are looking at a $1.5 trillion investment fund to overhaul Social Security and stop funds running out by 2032

    A group of bipartisan senators is quietly meeting to retool Social Security before funds run out in 2032
    On the table, according to Semafor, is gradually raising the retirement age to 70 and creating a $1.5 trillion sovereign wealth fund, which would invest in stocks
    Leading the efforts are Sens. Bill Cassidy, a Louisiana Republican, and Angus King, a Maine independent who caucuses with the Democrats

By Nikki Schwab, Senior U.S. Political Reporter For Dailymail.com

Published: 15:14 EST, 1 March 2023 | Updated: 18:29 EST, 1 March 2023



A group of bipartisan senators is quietly meeting to retool Social Security before funds run out in 2032.

On the table, according to Semafor, is gradually raising the retirement age to 70 and creating a $1.5 trillion sovereign wealth fund, which would invest in stocks.

That fund would be separate from the already existing Social Security Trust Fund. If it underperformed, Social Security would be shored up by increasing the maximum taxable income and payroll taxes.

Leading the efforts are Sens. Bill Cassidy, a Louisiana Republican, and Angus King, a Maine independent who caucuses with the Democrats.

Semafor and The Hill newspaper reported that other Republicans involved are Sens. John Cornyn, Mitt Romney and Mike Rounds.

more
https://www.dailymail.co.uk/news/article-11808639/Senators-quietly-meeting-retool-Social-Security.html

[christian]

Even the blind fools are beginning to see!  Spending Trillions on foreigners and give our enemies pallets of money and even equipment to fully equip said enemies with complete modern military complete, we gotta cut money to Americans struggling desperately.  Where else would a God hating, America hating government make cuts at?  Democrats have made their agendas overwhelmingly clear, even village idiots could understand.  Are there people dumber than village idiots?  Of course there are, they are the blind lock-stepping WOKE.  The brain deaf Satanist brigades, and how they hate America, but can't get enough of Americas money.
 

[DefiantMassRINO]

I guess those trillion$ we poured into Iraq and Afghanistan over the past 20 years were a waste.

Bush '43 promised not to nation build, and what does he try to do?  Build Afghanistan and Iraq in America's image.

The only nation America should be building is America.


 

[Maj. Bill Martin]

I'm waiting for the argument to be made at the national level that structurally, Social Security is racist/sexist.  Because it kind of is.  And it would be even more so if they implemented this change.

Make 60 the withdrawal age.  But once you've received an amount equal to what you put in, you're done.  No more.  Maybe even be generous and make it 125% of what you put in.

[Smokin Joe]

I'm waiting for the argument to be made at the national level that structurally, Social Security is racist/sexist.  Because it kind of is.

Yeah, if you worked, and didn't do so under the table to avoid taxes, you can draw.
If you worked harder, you can draw more.

Obviously racist.

But moonshining rednecks aren't getting any more benefits for the money they may have made than inner city blacks are for dealing weed (or whatever), so maybe it really isn't.

[Maj. Bill Martin]

Yeah, if you worked, and didn't do so under the table to avoid taxes, you can draw.
If you worked harder, you can draw more.

Obviously racist.

But moonshining rednecks aren't getting any more benefits for the money they may have made than inner city blacks are for dealing weed (or whatever), so maybe it really isn't.

Look at the retirement age, then look at life expectancies for blacks and white, and males and females.   It is quite clear that black males are drawing out much less of the benefits to which they are entitled, and white women much more.  Hell, raising the age to 70 would mean retirement age is actually higher than the life expectancy of black men.  Men in general get screwed in favor of women in terms of what we put in versus what we draw out.

Either concede that it really is welfare for (primarily) old white women,  or just tie everyone's benefits to what they personally paid in. But defending it against any changes on the ground that "I earned that!" ignores actuarial realities.

And just to be clear, like every proposal I've ever seen, I do NOT support changing it to disadvantage any current recipients, with the possible exception of some high-end means testing.

[Gefn]

 

[Fishrrman]

Raising the retirement age...
... is goin' nowhere when life expectancies in the USA are actually trending DOWNWARD.

This will almost certainly get filibustered in the Senate,.

[Wingnut]

Sounds like a plan.  Anyone born after 1990 should have to wat till 69 1/2 for full bennies.