Blackrock CEO thinks 65 is too early for retirement, needs to be moved later

[Insensitive]

Social Security Running out is bullshyt and pushing the retirement age out is focused
around getting as much worker productivity as possible prior to their death or inability to contribute.


This is why I'm so bullish on getting them assets up.

In six to seven years, I will laugh in the face of anyone thinking they're my fukking boss

 

[beenz]

For those who don't know, Blackrock is the largest asset management firm in the world with $10 trillion in assets (double the annual US government budget). He's literally upset that not enough Americans die before retiring anymore and says we need to move the retirement age into the 70s.


Fink, who is worth an estimated $1.2 billion, notes that many 65-year-olds in the early 1950s didn't get a chance to retire because many had already passed away. In other words, he writes, more than half of workers who had paid into Social Security never got a penny because they died before they could claim the benefit.


Imagine bringing up that argument as a reason to move the retirement age up.

America's retirement age of 65 is "crazy," BlackRock CEO says

BlackRock CEO Larry Fink said that longer life expectancies are "putting the U.S. retirement system under immense strain."

finance.yahoo.com

Trump and the Republicans have been talking about cutting Social Security as well. I suspect their old-ass base thinks they'll be grandfathered in and it will only impact the people currently working.

https://www.cnn.com/2024/03/11/politics/trump-entitlements-social-security-medicare/index.html

Trump floats 'cutting' retirement spending, drawing quick pushback from Biden

The Republican nominee-in-waiting said that “there’s a lot you can do in terms of cutting” when pressed on CNBC about the solvency of Social Security, Medicare and Medicaid.

www.nbcnews.com

then u got old farts like him in the boomer generation who work for 20 years and collect pensions and social security for 30 years, so they are collecting far more than they put in off the sweat we are putting in now into the labor market. he can suck my balls

 

[TV]

This is code for they want you to work until...you know

 

[Chrishaune]

then u got old farts like him in the boomer generation who work for 20 years and collect pensions and social security for 30 years, so they are collecting far more than they put in off the sweat we are putting in now into the labor market. he can suck my balls

And steady brainwashing talking about people are lazy

People don't want to work to death

 

[Piff Perkins]

There's an income cap on social security, meaning once you make a certain amount of money it isn't removed from your check. Get rid of that cap and it'll be funded forever. But instead of doing that, these vampires would rather force people to work more.

Another reason I'll never sit by and let a republican win the presidency without voting against him/her. These dudes should never have power again.

 

[beenz]

Straight devil

How can there be a strain on the retirement fund if money wasn't misused

social security isn't being misused.

the problem is as the baby boomers all leave the workforce, there will be more money drawn out of social security for the first time in history than is being put in by folks still int he workforce. this is expected to occur around 2030.

it's explained here:

 

[beenz]

There's an income cap on social security, meaning once you make a certain amount of money it isn't removed from your check. Get rid of that cap and it'll be funded forever. But instead of doing that, these vampires would rather force people to work more.

Another reason I'll never sit by and let a republican win the presidency without voting against him/her. These dudes should never have power again.

+rep this is a fact as well. so wealthy people who work high paying 9-5 salaried jobs are paying a much smaller percentage once they reach the cap.

furthermore, this is why u see the ultra wealthy taking their compensation mostly in stock. this allows them to pay less taxes than a W2 job because the stock is going to be taxed at a capital gains rate and not a normal income rate while allowing them not to have to pay into medicare and social security.

 

[feelosofer]

These corporations essentially want you to work until you die. My neighbor at 69 had to go back to work because some of his investments went belly up. He got a job in auto sales and he had to have a double knee replacement 3 months in.

 

[Scustin Bieburr]

Create an economic system where the entire goal is "make as much money as possible and destroy your competition so you're the only game in town"

And this is what you get. Government is supposed to check people like this and tell them "no" but in pursuit of the goal I described above, the capitalist will buy the politicians and use them as public relations.

 

[cobra]

i actually agree

put these old heads to work and lower my taxes

 

[Da_Eggman]

should be 55

 

[Windows 91]

They really want us to work till we drop dead

 

[Diondon]

He gon allow naps on the job, doe?

 

[feelosofer]

Create an economic system where the entire goal is "make as much money as possible and destroy your competition so you're the only game in town"

And this is what you get. Government is supposed to check people like this and tell them "no" but in pursuit of the goal I described above, the capitalist will buy the politicians and use them as public relations.

Once the Supreme Court made the judgement that corporations are people. It was the end.

 

[UncleTomFord15]

Invest while you're young so you don't have boss like this when you're older.