General Discussion

EdinGA

(11 posts)

22. ....And the way to finance this is...

Fri Aug 10, 2012, 12:53 PM

Aug 2012

...by eliminating the cap on social Security and Medicare contributions, currently pegged at $106K. Bernie Sanders introduced a bill raising the cap, but I say get rid of it altogether. Also include unearned income from dividends, deferred income and K-1 earnings as well.

At the same time, introduce a five cent per share trade surcharge to bring in yet more revenue for job training and assistance and free college at state universities. It would also stifle speculation and currency manipulation on Wall St.

These would be wonderful companions to Senator Harkin's bill, with about the same chance of being voted on and passed.

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Lower Social Security Eligibility to 55; Raise Benefits By 15% [View all] ProSense Aug 2012 OP

Works for me. 1-Old-Man Aug 2012 #1

+1 hedgehog Aug 2012 #33

A lot of people get their health insurance through work, so unless you also move the age for still_one Aug 2012 #2

Just moving Medicare eligibility to 50 Patiod Aug 2012 #3

You really think people will want to start their own businesses at 50? dkf Aug 2012 #14

You're thinking "entrepreneur" and I'm thinking consultant Patiod Aug 2012 #17

�... the highest rate of entrepreneurial activity belongs to the 55-64 age group." acamp Aug 2012 #20

Is that when they start their entrepreneurship or the only ones left? dkf Aug 2012 #43

Starting a business acamp Aug 2012 #59

You also get to the point where you realize it's far riskier putting your fate... acamp Aug 2012 #60

Hell yes, they would. Jackpine Radical Aug 2012 #29

Right. All that intellectual capital should be squandered. Scuba Aug 2012 #35

I started my own business at 44 Lydia Leftcoast Aug 2012 #55

+1. The problem is health insurance, not SS. Dawgs Aug 2012 #4

The problem is both. n/t FourScore Aug 2012 #5

The ProSense Aug 2012 #7

Interesting. There's all kinds of good stuff "buried" in ACA. Hoyt Aug 2012 #8

Fact sheet says only 31% of employers are providing benefits to retirees. dkf Aug 2012 #9

That ProSense Aug 2012 #12

Can be but will be? dkf Aug 2012 #16

What nonsense. ProSense Aug 2012 #18

That program is out of money antigop Aug 2012 #24

Solution: ProSense Aug 2012 #26

That bill hasn't gone anywhere and I don't expect it to go anywhere n/t antigop Aug 2012 #41

You went from ProSense Aug 2012 #47

It wasn't a "silly point" -- it was a fact -- the program is out of money antigop Aug 2012 #50

Besides, the whole program is a stupid idea. antigop Aug 2012 #42

Your comment ProSense Aug 2012 #46

My comments make perfect sense if you understand how the ERRP worked. n/t antigop Aug 2012 #49

Early Retirement Chef Aug 2012 #6

No one should be forced to retire who doesn't want to, and who can still do kestrel91316 Aug 2012 #10

I was forced to retire because of a layoff. RebelOne Aug 2012 #40

The formula reduces benefits for every month of early retirement. dkf Aug 2012 #11

Then boost it by whatever makes sense. ProSense Aug 2012 #15

Do you know how much you need to save to retire comfortably? dkf Aug 2012 #19

Well ProSense Aug 2012 #21

Too many don't think things through. dkf Aug 2012 #25

Yeah, ProSense Aug 2012 #30

I did think things through and I am underwater right now! CreekDog Aug 2012 #31

+1,000. Thanks for that. freshwest Aug 2012 #39

That 2 million figure is way out of touch with reality...median income in the US is around 46,000 Bluenorthwest Aug 2012 #57

I think it'd be politically impossible to make it temporary. Kaleva Aug 2012 #28

Wait 13 more years please. ileus Aug 2012 #13

....And the way to finance this is... EdinGA Aug 2012 #22

Senator Tom Harkin, democrat! Citizen Worker Aug 2012 #23

Makes no sense at all. upaloopa Aug 2012 #27

Where did you get this 'force people to retire' meme? Bluenorthwest Aug 2012 #56

The idea was to raise the amount of social security paid and people retire at 55 so younger people upaloopa Aug 2012 #58

Instead of bailing out the banks, penndragon69 Aug 2012 #32

I like it Lefty Thinker Aug 2012 #34

Thom Hartman also suggests lowering S.S. age eligibility. chknltl Aug 2012 #36

I've been saying this for ages mcar Aug 2012 #37

Sounds like a great idea and one that would actually help the economy. sabrina 1 Aug 2012 #38

HUGE K & R !!! WillyT Aug 2012 #44

Yes! truebluegreen Aug 2012 #45

it's another measure of how corrupt Washington is that they have discussed doing the exact opposite yurbud Aug 2012 #48

My husband would retire today if he got full benefits. CrispyQ Aug 2012 #51

What about folks who want to continue to work past 55? MadHound Aug 2012 #52

Those who want to work would have that option. There would just be another option. Bluenorthwest Aug 2012 #53

We pay for this by taxing the rich. TBF Aug 2012 #54