Thu Jan 17, 2013, 03:37 PM
Yo_Mama_Been_Loggin (12,026 posts)
CEOs Want Americans To Retire Later
The Business Roundtable, a group representing the CEOs of the largest corporations in the nation — including the biggest banks, retailers, and insurance companies — is calling to raise the retirement age to 70. The group argues that Social Security is no longer affordable and plans to lobby Congressional lawmakers and the administration for its plan:
An influential group of business CEOs is pushing a plan to gradually increase the full retirement age to 70 for both Social Security and Medicare and to partially privatize the health insurance program for older Americans.
“America can preserve the health and retirement safety net and rein in long-term spending growth by modernizing Medicare and Social Security in a way that addresses America’s new fiscal and demographic realities,” said Gary Loveman, chairman, president and chief executive of casino giant Caesars Entertainment Corp.
Loveman, who chairs the Business Roundtable’s health and retirement committee, said the business leaders will be meeting with members of Congress and the administration to press them to enact their plan.
CEO’s representing an organization called “Fix the Debt” have made the same argument. But the idea that Social Security is unaffordable for future generations is nonsense. The program can pay full benefits for decades, and nearly full benefits after that, with literally no changes. Minor tweaks — such as raising the payroll tax cap — can render the program solvent for three-quarters of a century. Social Security is also statutorily barred from adding to the federal deficit
This totally fucking sickens me. First of all fewer and fewer companies offer a defined pension. One cannot live on Social Security alone.
Secondly if one is 50 or older and gets laid off from their job it's more difficult for one that age to find a new job.
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CEOs Want Americans To Retire Later (Original post)
Response to sinkingfeeling (Reply #1)
Thu Jan 17, 2013, 04:02 PM
theaocp (1,941 posts)
Anybody think they're going to keep folks around to see that retirement age? Fuck no! However, they sure want the money that would come from raiding ss.