Quote:
Originally Posted by GatorB
The vast majority of people that get SS now get far much more than they ever paid in. Meanwhile people my age and younger( I'm 40) will be lucky to break even.
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Originally...when the age to receive SS was set at 65...the average recipient lived for 18 months...but now the average recipient is living for about seven years (I think 7 is correct...I may be wrong) and that is why some time ago the age has been increased to 67 for those born after x date (I am not sure but you probably fall into the 67 age bracket) and there is talk of raising the age even higher and I have no doubt in my mind that it will be raised higher and higher as time goes by.
Originally SS was not designed to be ones retirement but was designed to be a supplement to ones retirement and/or savings. Over the years this original idea has been changed and many people now rely upon it as being their only source of retirement...and in addition to be their only source of medical coverage and drug coverage since medicare and medicaid came into being.
SS is rife with problems and may ultimately fall under its own weight. My irritation is with an administration and congress that can spend trillions..."bailing out" corporate entities and they in turn give out multi million dollar bonuses...and their people fly around in coporate jets...as does members of Congress...while some aged and disabled...are literally barely surviving...are expected to just tighten the purse strings more than they already have been doing.