Quote:
|
Originally Posted by pornguy
They were told that all they would need in their senior years was Social security. What a crock of shit.
|
Originally SS was never intended to be a retirement plan. It was intended to only supplement private savings...other retirement etc. Congress continued to expand upon SS increasing benefits and introducing medical coverage.
When SS was first introduced the average life span of a retiree (age 65) was 67. During this period all that a recipient had paid in was withdrawn within the first eighteen months. This 18 month period has not changed much because of the increased benefits and medical coverage...but yet the average life span has changed dramatically...thus overburdening the system.
The retirement age for some in X age group has been increased to 67...but realistically this number should currently be 69 or 70 and as time passes will have to be increased to a higher number.
For whatever the reasons people instead of viewing SS as a supplement to their savings...investments and other retirement as well as private medical insurance...began to develop the attitude that SS was to be their sole retirement and medical coverage.
There is a thing called personal responsibility but this is a trait that has deteriorated over the years and has turned into a "you owe me"/"give me" society of people.