Nov 2nd Predictions.

Steve Petersen said:

As long as a person is working they will pay SS taxes, so raising the retirement age will add to the stream of money going in. Also, those near the end of their working careers are paying more in SS taxes because their pay is higher than those entering the workforce.

Click to expand...

Is the current retirement age targeted? No, it is not, and wasn't when the retirement age was raised from 65 to 67. I can understand making exceptions for certain types of work as long as it can be kept under control. It hasn't been in Europe. Early retirement at 50 for high stress jobs like pastry chef is absurd.

Click to expand...

Corey said:

While true, this doesn't address my point about the impact on the job market and wage deflation.

Click to expand...

Steve Petersen said:

Look, if you extend your logic, the sooner we can get people out of the work force, the less competition for jobs and hence higher wages. Problem is the people that continue to work will have a greater burden to bear by the fact they will have to be paying to support otherwise able bodied people not to work (via SS). This will raise their taxes and reduce their effective pay.

Click to expand...

As an aside, the longer a person delays taking SS, the higher the benefit. Increase is about 8% for each year you delay.

Click to expand...

Wolseley said:

Which was only surpassed by the snide viciousness and triumphant vindictiveness displayed by the Democrats following the 2008 election. I guess it all evens out.

I remember some conservatives on this and other boards were emotionally and psychically hurting on the morning of November 5th, 2008---and the attitude that the progressives gave them was nothing short of totally uncalled for: a lot of nasty comments about "black crepe" and "you got what you deserved".

I hope that tomorrow morning the liberals, progressives, Democrats, and RINOs have a lot of black crepe of their own to hang.

Click to expand...

MichaelHelp said:

It isn't a possibility. In fact nearly all of the agenda the GOP is pushing borders on near impossibility.

Although some talk about abolishing the minimum wage, they won't
Although some talk about privatizing social security, they won't
Although some talk about repealing the 14th amendment, they won't
Although some talk about implementing a national sales tax in lieu of an income tax, they won't
Although some talk about repealing health care reform, they won't

This is one of the reasons why the GOP hasn't earned my vote. They are all talk no walk.

Click to expand...

BoltNut said:

If they succeed in doing all the things listed above, no matter how difficult or impossible, would you then vote for them? I kinda doubt it.

They won't touch minimum wage and they will not touch the 14th amendment. They will, however try to repeal Obama-care. Will they be successful? Ask me tomorrow, my crystal ball is still a little fuzzy. Regarding the national sales tax, no, they won't do anything about that yet because it isn't the time to do it yet. They will concentrate on cutting the spending and then they will try to address issues with Social Security and Medicare. I would doubt that a final bill could be put together right away but they will be working on it. Something needs to be done. I'm at that age where anything that they do about Social Security will affect me directly and immediately. I also realize that they need to make some very difficult decisions. I may not like it, but will have to accept it, none the less.

GOP legislators can't do everything that needs to be done, or undo all the things that need undoing in two years. They will continue the work after 2012 if they get the opportunity. The economy will not recover to what it was in 2003 overnight. When people start working again, they may address the tax code. But, honestly, that is more a long term goal. Immigration reform is much more important right now.

Click to expand...