Why does raising the retirement age hurt young people?
governance.fyi
Why does raising the retirement age hurt young people?
1–10 of 110 posts
Re: Why does raising the retirement age hurt young people?
#2Full Title : Why Does Raising the Retirement Age Hurt Young People? What Would It Take to Start/Restart Their Careers?
Turns out trying to get people to retire later is a bad idea
Re: Why does raising the retirement age hurt young people?
#3Ah yes, the mental anguish of knowing you'll never retire because you'll either die before retirement age or they'll just keep pushing it up, so that you do.
Re: Why does raising the retirement age hurt young people?
#4Full Title : Why Does Raising the Retirement Age Hurt Young People? What Would It Take to Start/Restart Their Careers? Turns out trying to get people to retire later is a bad idea
Governments and career politicians do not care and will do anything to try to make the situation worse.
Re: Why does raising the retirement age hurt young people?
#5Oh, this is so incredibly coordinated to what I was doing just a minute ago, which is checking one of my Pension funds and realizing it recovered from a massive hit back in March. I was thinking about how futile the whole thing is... I just know this money will never be mine, and I will work until I die (if I'm lucky enough). Oh well, I guess better get some sleep, back to the office tomorrow...
Re: Why does raising the retirement age hurt young people?
#6Ah yes, the mental anguish of knowing you'll never retire because you'll either die before retirement age or they'll just keep pushing it up, so that you do.
To be fair, the original SS age was at the high end of the actuary tables. As science extended life, society failed to move the line of retirement.
Re: Why does raising the retirement age hurt young people?
#7Ah yes, the mental anguish of knowing you'll never retire because you'll either die before retirement age or they'll just keep pushing it up, so that you do.
To be fair, the original SS age was at the high end of the actuary tables. As science extended life, society failed to move the line of retirement.
To be fair, at that time personal taxes were not at that level and sales taxes mostly didn't exist.
Re: Why does raising the retirement age hurt young people?
#8Earlier quoted context omitted.
To be fair, the original SS age was at the high end of the actuary tables. As science extended life, society failed to move the line of retirement.
To be fair, at that time personal taxes were not at that level and sales taxes mostly didn't exist.
Taxes on the very wealthy were dramatically higher: https://en.wikipedia.org/wiki/Revenue_Act_of_1935
Re: Why does raising the retirement age hurt young people?
#9All of this is by design. You get:
- Lower taxes for the ultra-wealthy
- People working longer to make the ultra-wealthy slightly wealthier; and
- Younger people getting padi less, again making the ultra-wealthy slightly more wealthy.
The entire policy and government appratus of the US in particular is designed as a massive wealth transfer from the poor and young to the old and wealthy.
There is no reason why the wealthiest countries on earth can't afford to let people who are 60 years old retire. Other than of course the wealthy would have to pay slightly more in taxes.
I can't find it now but I saw an article talking about all the social and policy ideas that unwittingly got tested in the Covid pandemic. The effects of giving money to poor people (it's not the moral hazard it's made out to be), how schools increase the spread of disease and a whole host of others.
Re: Why does raising the retirement age hurt young people?
#10At this point I just want the debt incurred by the electoral decisions of the last fifty years paid off. If that means retirement gets pushed back, well, shrugs.