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Wed Jan 16, 2013, 07:45 PM

U.S. business executives call for raising retirement age to 70

This discussion thread was locked as off-topic by OKNancy (a host of the Latest Breaking News forum).

Source: Reuters

WASHINGTON (Reuters) - A business group of top executives on Wednesday proposed reforms to Social Security and Medicare that would raise the enrollment age for both programs to 70 but not raise Social Security taxes paid by upper-income Americans.

The Business Roundtable, which represents more than 200 chief executives from some of the largest U.S. corporations, also urged Congress to add a "premium support" mechanism to Medicare, peg Social Security cost-of-living adjustments to a lower inflation gauge and raise Medicare charges for wealthier beneficiaries.

This strategy for "modernizing and protecting our social safety net" would save $300 billion in Medicare spending over the next 10 years, make Social Security solvent for 75 years and help foster stronger economic growth, the group estimated.

The proposals come as President Barack Obama and Congress prepare for an intensive new round of deficit-reduction talks. Safety net programs including Social Security and Medicare are likely to take center stage. The CEOs intend to pitch their ideas to the White House and to congressional officials.



Read more: http://www.baltimoresun.com/business/sns-rt-us-usa-fiscal-entitlementsbre90f1my-20130116,0,318442.story



While the Gun Issue takes center stage today, the Business Roundtable and the faithful news media began their assault today on Social Security and Medicare.

These business executives could care less about the deficit and debt, and they especially could care less about 300 million Americans these programs affect. They are simply screwing us out of our own money so they can take a few more dollars away from us.

Social Security is 100% the people's money - not one penny comes from the US Treasury. We pay about 54% of the Medicare costs - why can't taxes be raised to pay 100%. Better yet, why is there a medical insurance industry at all.

We better stand up and tell President Obama, Republicans, and Democrats that not only do you not harm these programs thru benefit cuts - you make them stronger.

They will take our programs if we don't stop them.


On Edit: these stories are from today Jan 16, 2013


Other Links:

http://www.usnews.com/news/articles/2013/01/16/ceo-group-proposes-raising-retirement-age-means-testing-social-security

http://www.cbsnews.com/8301-505146_162-57564374/u.s-ceos-push-plan-to-raise-full-retirement-age-to-70/

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Replies to this discussion thread
Arrow 24 replies Author Time Post
Reply U.S. business executives call for raising retirement age to 70 (Original post)
TheProgressive Jan 2013 OP
kickysnana Jan 2013 #1
no_hypocrisy Jan 2013 #5
AllyCat Jan 2013 #2
KamaAina Jan 2013 #3
2on2u Jan 2013 #9
snappyturtle Jan 2013 #4
Newsjock Jan 2013 #6
TheProgressive Jan 2013 #17
BVictor1 Jan 2013 #7
Vincardog Jan 2013 #19
Evergreen Emerald Jan 2013 #8
handmade34 Jan 2013 #15
TheProgressive Jan 2013 #10
Scuba Jan 2013 #11
Sherman A1 Jan 2013 #14
Ruby the Liberal Jan 2013 #12
Hong Kong Cavalier Jan 2013 #13
Clouseau2 Jan 2013 #16
TheProgressive Jan 2013 #21
cbrer Jan 2013 #18
MJJP21 Jan 2013 #20
kath Jan 2013 #22
DaveJ Jan 2013 #23
OKNancy Jan 2013 #24

Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:48 PM

1. Why? They only hire young and lay everyone off at 47 now, with no recourse.

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Response to kickysnana (Reply #1)

Wed Jan 16, 2013, 07:49 PM

5. Are they also asking for a mandate that prevents discrimination against candidates and employees

who are over 45?

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:48 PM

2. What? Are they going to hire a bunch of them?

Are they so desperate for workers that they need to keep people in the workforce for years longer than they do now just to keep up?

Or are the little f*ckers just trying to figure out how to not pay any more than they already do (or even less than)?

Lower the retirement age and pitch the Cap. And put these jerks in jail.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:49 PM

3. "Get a job, Grandma!"



What a brilliant idea. Let's keep people in the workforce longer so fewer jobs open up for young people.

Or, we could just do away with the cap on the FICA tax, and solve the problem that way.

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Response to KamaAina (Reply #3)

Wed Jan 16, 2013, 07:52 PM

9. The longer you work the less SS you will get, or at least that is the way I see it. n/t

 

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:49 PM

4. No. I turned 65 last September....believe me that's long enough. At one time

I would have not thought so much about a mere five years but.....now I know better!

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:49 PM

6. 1. Raise the Social Security taxable earnings cap. Problem solved.

2. Up yours, Business Roundtable.

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Response to Newsjock (Reply #6)

Wed Jan 16, 2013, 08:01 PM

17. Absolutely. Raise the cap.

Business owners will fight this because they will have to match their share. I
say f-them.

To fix Medicare and our health system in general - Medicare for All. Period.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:52 PM

7. Bunch of ignorant and rich bastards.

 

I wonder what the annual income (plus) perks of these CeO's?

Multi-millionaires certainly have the nerve to have an opinion on this issue.

Just because people are living longer doesn't mean that they're healthier.

Yes, modern medicine has allowed for the extension of life, but after working for 30-40 years... who want's to anymore?

Once again the 1% attempting to control the dialogue on an important issue that affects everyone else.

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Response to BVictor1 (Reply #7)

Wed Jan 16, 2013, 08:01 PM

19. Counter offer "You pay SS full tax 15% on all bonuses and stocks".

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:52 PM

8. Will they promise to hire a 70 year old?

No. They won't. No employment, no safety net, no health care.

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Response to Evergreen Emerald (Reply #8)

Wed Jan 16, 2013, 08:00 PM

15. +1 yes, my thoughts

maybe if guaranteed job, offering at least livable wage, suitable to health conditions

at 50 it was getting more difficult, at 60, now I might be out of luck

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:53 PM

10. I noticed that I posted the same story as someone else (7 minutes later)

I am not sure of the policy - should I delete my thread?

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:56 PM

11. Another bass ackwards idea from the private sector....

... lowering the eligibility age for SS and Medicare would boost the economy.

The CEO's just like cheap labor.

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Response to Scuba (Reply #11)

Wed Jan 16, 2013, 07:58 PM

14. Precisely

It's all about cheap labor and not having to pay out anything resembling benefits.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:56 PM

12. Yet try getting hired after 55.

Sure - work people into an early grave (while not hiring anyone over 50 because they "cost too much") AND protect the wages of the over $110k/year folks from providing support for the social safety net.

Most excellent offer.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 07:58 PM

13. I love it when rich CEO fuckers who never have to worry about retirement...

tell me I have to work until I'm 70.

These "top executives" need to fuck right the hell off.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:01 PM

16. Yes, raise to 70 for ...

those in the upper 5% income levels, who indeed are living much longer and can usually do their jobs well into their 70s.

However, for those in the lower income brackets, life expectancy has not improved much.

It really should be *lowered* for those people, especially for physically demanding occupations. You can't expect the average laborer to be picking fruit, cutting meat in a meat packing plant, or mining coal at 70 years old, whereas someone like an attorney can do his or her job at age 70.

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Response to Clouseau2 (Reply #16)

Wed Jan 16, 2013, 08:03 PM

21. When you start putting conditions and means testing on these programs -

Then these conditions will eventually be lowered to the point it will be called welfare.
And that is how they kill programs.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:01 PM

18. Corporate Welfare needs to go away

 

NOW!

This is the kind of ridiculously short sighted bull shit that will just pump more money into the pockets of the 0.01%.

If this nation is anything about people over corporations, it's time to elect representatives that understand that.

I fear the time is past when our leaders will take a stand. Or when we'll get a choice between 2 candidates that stand for the side of the citizens that make this country great. The Plutocracy has taken root, and is bearing fruit for it's masters and manipulators.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:02 PM

20. Did

this business group say they would be willing to keep people employed in their business until age 70? Can anyone really imagine an employer keeping a bricklayer, a carpenter or any othe manual labor employee on the payroll even after 50 let alone 70? Unless the labor laws are changed and have some teeth this idea should be a non starter.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:06 PM

22. These "top executive" fuckers need to be first in line for the guillotine.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:07 PM

23. My Dad retired at 55

He worked at a company that actually promoted saving for retirement. Bonuses based on performance, stock options, etc.

Today's businesses only have this retirement plan: work until you die.

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Response to TheProgressive (Original post)

Wed Jan 16, 2013, 08:08 PM

24. duplicate

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