General Discussion
In reply to the discussion: Why shouldn't Social Security age be raised for future generations? [View all]haele
(15,644 posts)The fewer mid-level jobs you have for working-class people to work up to and out into professional/management levels in the prime of their earning age.
We aren't talking entrepreneurs, we're talking working people who get by-the-hour paychecks from private and public organizations work. These are hierarchal jobs, based on a mixture of skill and time/experience common in every business culture that the majority of Americans do to support themselves and their families and hopefully they can make enough money for their future at.
But the problem with every hierarchy is that while there may be a bunch of openings at the bottom, there are only a few at the top. Most people never make it to Head Honcho Desk-rider with responsibilities over both the workforce and the overall focus of the organization; most retire stuck somewhere in between head rep, line leader or project lead and shop foreman, shift leader or office manager. The upper level blue/pink collar worker/mid-level white collar management/expert positions - the ones that drive the middle class, buying houses and raising families.
So, the longer you economically force people to continue working, the fewer chances for advancement the younger generations have and those younger people will not have the opportunity to make enough money to start making the investment in the country's economy and infrastructure, forcing them into dependency on family or government supplemental programs if they want to raise families - instead of allowing them to work themselves in a stable financial position so when it comes time for them to retire, they won't be totally dependent on Social Security and Medicare for their survival.
Flatly - by raising the Social Security age, you decrease sustainable employment opportunities for those in their 20's and 30's.
Better to raise the cap on Social Security to all income, instead of capping it to the income level of those who will probably need to apply to take Social Security benefits to supplement their "retirement 401Ks" or whatever is left of their pensions after they retire because they didn't really make enough while they were working to put enough away to actually retire the way their parents did or could have at the age of 65.
80% of the people who retire depend on Social Security and Medicare to at least supplement their living expenses when they're over 70. And there are those who begin collecting Social Security as soon as they can while still working so they can pump whatever they can into some sort of "Retirement Investment" so they can eventually retire - at 70 or 72 years old - and still live in their homes, eat, pay their property taxes, and take care of their health needs until they die with some modicum of dignity. And perhaps have a little bit to pass on to their children and grandchildren.
Haele