Sounds like Rand is WRONG again to me... when he states "The ONLY way" to fix it is to either raise the tax rate or raise the age to 70. NO! That is NOT the ONLY way. It is just the only way he is considering.
Trump is right. SS income should have zero taxes. We paid in more than we will ever get back out of this system. That in itself is a baked-in tax via the loss we will experience on this investment.
Secondly, raising the age to 70 with the average (USA) life expectancy of 78.39 years! Look folks, have you ever looked at the lifestyles, health and existence of the last 8 years of old people? It isn't pretty. Medical problems show up. Costs go up but income does not. Many of the assets you accumulated start requiring expensive maintenance. I think they need to lower the age to 60! I retired at 50... with no SS income. It was tight but I was still healthy and enjoyed a less-expensive lifestyle. When SS did kick-in, it was freedom. Freedom to spend on things I hadn't been able to before. If I had to wait until I was 70... well, I would still be waiting because I'm still not there yet.
I use to like Rand Paul, I really liked his dad, but something has changed with Rand. He is either deeply compromised or terribly misinformed. Not sure what it is but something is wrong with him.
Trump is right but we haven't figured out how to cover the difference if we stop taxing it --other than accruing much more debt. Tariffs, even at current pre-deal levels, aren't going to make SS solvent long term. Rand is being practical. Those are the only two options that are based on something other than hope.
What would work is making them optional. I think we should just level with people that SS is currently an additional federal tax that is going to have more and more limits on taking any benefit.
Sounds like Rand is WRONG again to me... when he states "The ONLY way" to fix it is to either raise the tax rate or raise the age to 70. NO! That is NOT the ONLY way. It is just the only way he is considering.
Trump is right. SS income should have zero taxes. We paid in more than we will ever get back out of this system. That in itself is a baked-in tax via the loss we will experience on this investment.
Secondly, raising the age to 70 with the average (USA) life expectancy of 78.39 years! Look folks, have you ever looked at the lifestyles, health and existence of the last 8 years of old people? It isn't pretty. Medical problems show up. Costs go up but income does not. Many of the assets you accumulated start requiring expensive maintenance. I think they need to lower the age to 60! I retired at 50... with no SS income. It was tight but I was still healthy and enjoyed a less-expensive lifestyle. When SS did kick-in, it was freedom. Freedom to spend on things I hadn't been able to before. If I had to wait until I was 70... well, I would still be waiting because I'm still not there yet.
I use to like Rand Paul, I really liked his dad, but something has changed with Rand. He is either deeply compromised or terribly misinformed. Not sure what it is but something is wrong with him.
Trump is right but we haven't figured out how to cover the difference if we stop taxing it --other than accruing much more debt. Tariffs, even at current pre-deal levels, aren't going to make SS solvent long term. Rand is being practical. Those are the only two options that are based on something other than hope.
What would work is making them optional. I think we should just level with people that SS is currently an additional federal tax that is going to have more and more limits on taking any benefit.