Stressing the Teat

Government payouts (handouts, as we say in Greentown)—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.

One third?

This isn't sustainable. The previous generation that retired at 65 have received ridiculously high returns on their social security taxes. Good for them. But it's a different world now.

How about this... When I retire I'll let the federal government keep half, maybe even two thirds of my social security payout, if they will let me work and make as much as I want and pay no income taxes on income less than $100k. Without taxes, two days of work will provide the income of three day's work.

See, I'd work a couple days per week, part time, and stay in touch with my friends... (probably healthier than sitting in my La-Z-Boy watching TV). Through my employer I'd have insurance to supplement medicare... I'd be making and spending money supporting our economy... I could even continue to save and invest. It's a win-win. With my lifestyle I would do great! I'd take that option and be happy.

The Federal government needs to come up with options and alternatives to social security and medicare. It's not greedy to expect a return on the Social Security promise, but Social Security became welfare a long time ago, and not every retiree needs welfare.

Let the uber-wealthy retire and be happy with the millions they've saved and invested... I'll be happy with my thousands if Uncle Sam will just work with me.

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