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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGOP Wats To Cut Social Security/Medicare By Raising Eligibility To 70 Or More..
Future generations will be expected to retire later and will be coerced to wait until 70 or more to get the same benefits their parents got. It is a back door way to cut benefits. The argument is tat since people live longer they don't need these programs until they are much older.
If you follow the Ivanka Rubio idea of delaying retirement benefits if you take parental leave or get some other government benefit like medical leave that idea is what the GOP wants. In their mind Social Security would be an asset you can borrow against by delaying your benefits.
The GOP wants to go back to a time in the early 1900's where there IS NO RETIREMENT SYSTEM. Retirement would be a totally self funded benefit. It is about making having a 401K as the only vehicle for the later years.
The GOP believes that a 401K will be enough to fund one's entire retirement. The stock market will make most workers millionaire with 30 or 40 years of saving. That goal is their ultimate mission.
BigmanPigman
(51,626 posts)S Security and Medicare while discussing the "happy GOP budget deal".
chuckstevens
(1,201 posts)This will be an 2018 Election Winner! NOT!
The Democrats need to scare the hell out of Baby Boomers with this idea!
livetohike
(22,157 posts)and family who didnt live long enough to collect. Republicans are evil.
IluvPitties
(3,181 posts)They want people to work until they die, like slavery.
Hortensis
(58,785 posts)But will that longer allow them to remain in their own homes, maybe even enjoy those years a bit, or will it require moving to a rental in some low-end neighborhood after thei rhomes are sold to pay for food and medicine?
Notably, while the wealthy pass on estates tax-free to their children, this plan would gut the large base of inheritances that pass some degree of today's economic wellbeing on to our children and grandchildren.
And one guess in WHOSE pockets most of the personal wealth we used up instead of passing on to our loved ones would end up?
COUNTDOWN to saying BIG NO to Banana Republicans: 270 days
ProfessorGAC
(65,159 posts). . .to the unemployment level. Part of getting young people into good jobs is that older people leave them voluntarily upon retirement.
Now, you cut 8% of the attrition. UE goes up. People get on UE insurance. Or they get poor and die of hunger.
Nice example of long range thinking.