2 ms·
This!!! I believe originally the retirement age was set way above the average life expectancy. Some information I had was that when it was first setup life expe
by gautamdivgi 10y ago
This!!! I believe originally the retirement age was set way above the average life expectancy. Some information I had was that when it was first setup life expectancy was 55 yrs while you could collect SS at 60 years. If that is really the case then SS has been a ponzi scheme of sorts for a while but now that people are living longer the time to payback is coming. Second, I think sometime in the 70's or 80's accounting changes were made so that the budget deficits could be "hidden" with SS money (i.e. it was no longer an exclusive trust).
- kzrdude 10y agoI believed so too, but reading on Wikipedia somewhat opened my mind to different arguments, since they underscore how the average life expectancy could be said to be approximately 70 years at the introduction of the 70 year retirement age in Germany. https://en.wikipedia.org/wiki/State_Socialism_%28Germany%29#Old_Age_and_Disability_Insurance_Bill_of_1889 https://en.wikipedia.org/wiki/State_Socialism_%28Germany%29#...