Where did the idea of retiring at age 62 and living off the gov come from

[VIKING]

I would also like to say I'm sorry if I miss understood the comments. I was only reading it the way it sounded to me..Starting off with saying I would be living off the government when I retire in a couple of weeks....Where did the idea of retiring at age 62 and living off the gov come from

 

[Billybob]

Foster care and child welfare funding both come from the SS fund. And just like Medicare, Medicaid, and defense contracts it seems to be a fraud fest with little accountability.

Latest example, $12mil. in fraud = 26mo. in prison.

Motorized scooters frequently part of Medicare fraud cases

http://www.wral.com/news/local/story/5921755/

 

[Billybob]

Ghost children(and ghost employees) were documented in the system here in OK. Just like in Santa Clara.

CPS Fraud Santa Clara Ghost Children

http://www.docstoc.com/docs/112335566/CPS-Fraud-Santa-Clara-Ghost-Children

Anybody remember the Yearwood case here?

Vickie Rhea Yearwood, an Oklahoma City mental health counselor, is accused of Medicaid fraud for second time

http://newsok.com/vickie-rhea-yearw...fraud-for-second-time/article/3663930/?page=2

 

[Cinaet]

Talk about missing the boat...

Hey Brother Rat, you typed the words, not me.

...who got the impression that you should be able to retire, that we were "entitled" to retire and most likely bring in more than you paid in during your younger years.

There are probably lots of us who are retired who get a little uppity when we read "entitled" in the same sentence having to do with SS. It's kind of like picking at a raw sore.

 

[Hobbes]

Dang Hobbes! That's a bunch of old folks.....

Yep. A dramatic improvement of infant mortality rates has allowed a lot more people to survive childhood and adolescence in order to reach the age of 65.

What's important to understand though is that a man who reached the age of 65 in 1940 could expect to live another 12.7 years.
A man who reached the age of 65 in 1990 could expect to live another 15.3 years.
So, a 65 year old senior as of 1990 had a life expectancy that is a mere 2.6 years longer than in 1940.

When someone tries to tell me that SS needs to be cut because we are all living a lot longer I know that they are either:
1. Knowingly citing a misleading statistic to fool me into giving up my rights to my SS benefits
OR
2. They have already been fooled by the group in category 1 above.

 

[cscokd]

The only people fooled are those who think they have a right to the money that they have contributed to the fund. SS isn't a savings account. It is an insurance plan. And a poorly managed one at that.

 

[Hobbes]

The only people fooled are those who think they have a right to the money that they have contributed to the fund. SS isn't a savings account. It is an insurance plan. And a poorly managed one at that.

When I pay into an "insurance" plan for decades, I don't let the insurance guy tell me I'm not entitled to collect a payout when it's due.
And I don't allow him to try and justify taking my payout by citing a misleading statistic.

Or anyone else for that matter.


YMMV

 

[Cinaet]

The only people fooled are those who think they have a right to the money that they have contributed to the fund. SS isn't a savings account. It is an insurance plan. And a poorly managed one at that.

I'll think of you and give you a virtual nod of thanks when I cash my next SS check.

 

[cscokd]

When I pay into an "insurance" plan for decades, I don't let the insurance guy tell me I'm not entitled to collect a payout when it's due.
And I don't allow him to try and justify taking my payout by citing a misleading statistic.

Or anyone else for that matter.


YMMV

What is this "misleading statistic" that you are accusing me of citing? The misleading facts are comparing 1940's 9 million people 65+ to 2000's 35 million and thinking that is relevant. In actuality there were only 222,488 of the 9 million on the take in 1940. Today there are 51 million beneficiaries on the roll and only 2.5 times the number of workers to carry the load. The model is unsustainable, period. Without a major overhaul many of us will never collect.

 

[Street Rat]

Hey Brother Rat, you typed the words, not me.



There are probably lots of us who are retired who get a little uppity when we read "entitled" in the same sentence having to do with SS. It's kind of like picking at a raw sore.

Hey, it was the first word that came to my fingertips.

A lot of information came out since I got all defensive and stuff. So basically, whether it was a good idea or bad idea, (well, it was a bad idea) in the beginning, we dug ourselves into a giant hole and can't get out, I can't wait to see how obamacare comes out.