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Should We Raise the Retirement Age?Mark on CNBC

October 19, 2010

Short answer: NO!

(Short Version)

(Long Version)

Let’s have the wealthy in America pay for the Iraq War and the billionaire tax cut and the corporate goodie giveaways before they start taking away the last refuge of the American Middle Class: the money they’ve socked away over the course of their working life to assure them some security in their old age or in the event of disability.

We can start by requiring billionaires to pay at least the same tax rate as janitors.  Why should payroll taxes end for the rich?  Why should hedge-fund billionaires pay taxes at a lesser rate than their secretaries?

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  • Mark T. October 26, 2010 10:22 pm

    Greetings Mark,
    Thanks for the link. Your comments to Clyde S. were right on.
    After watching the video I could not help but shake my head in disgust. Why is the elderly man whose job appears to be reading copy and wearing a suit telling me I am spoiled because I don’t want to work until I am 70 years old? The fact is some jobs are so physically demanding that you cannot do them that long. He should try working in the construction trade for a while and then talk to people about working till 70.
    When, or if I retire, I will not be living beyond my means on my social security income. That is why we have the opportunity to invest in IRA’s, 401k’s and the like. I invest in one myself to provide for a better retirement. But if something would happen to that investment (like 2 years ago when the stock market took a dive), I can at least count on my Social Security.
    Here are 2 facts I am fairly certain of:
    1) If saving for retirement was optional, there would be some that would either opt out or possibly lose the money through no fault of their own.
    2) The government would not allow those people to just die in the streets from lack of resources.At least not if there are some Democrats in power.
    The point is if the government is going to provide some assistance to you in retirement because you messed up they might as well get the money up front. I also think we have the best of both. S.S. for sure and your 401k for extras.
    One last comment. Why do the French workers not deserve to work only 35 hours a week and retire at age 60, but Paris Hilton can live a life of leasure by being born rich, and that’s okay?!!

  • Mark October 26, 2010 9:50 am

    You want to understand a working person who acts like an “abused spouse”? Take a look at Clyde S., who commented on my video here:

    Clyde blames OBAMA for the fact that Boeing is increasing health care premiums on its workers.

  • Mark T. October 25, 2010 6:37 pm

    Greetings Mark,
    Just a couple of observations I’ve made.
    1}You have the right wing bashing the French for protesting an increase in their retirement age.

    2}You have Rebublican senators, during the auto bailout, saying that the union workers in the U.S. owned auto companies should make less money and benefits.

    Why are the conservatives asking the middle class to work longer for less money? And how do they get the average citizen to agree to that?
    Why aren’t the non union workers saying “Hey, we want a better standard of living” ?
    Also, instead of calling the French “a crazy bunch of juvenile delinquents” we should be telling our lawmakers that if they try that here we will make the French protests look like a picnic in the park.
    Instead of people screaming WTF, the right wing seems to get them to abandon their own best interest and believe they don’t deserve any better. I honestly don’t get it.
    Perhaps it is the same thinking that keeps people in abusive relationships. The abused spouse ends up thinking they must deserve it because they somehow caused it.
    As always, I engoy your podcacts and listen to them while I drive.