John Tammy has written a piece for Forbes arguing that Social Security is no longer the Third Rail of American politics because people will be working until they're 70 and then relying upon their private savings. Social Security hardly matter to anyone not already on benefits or about to be on them. He just wants taxes lowered for money coming out of retirement accounts.
Talk about being elite and out of touch! Most people don't wait until full retirement age now to start their Social Security benefits. There's no sign that's changing. Blue collar workers can rarely go on working until they're 70. Their health won't permit it. I think that Mr. Tammy hasn't yet experienced any of the ill effects of the aging process. It's coming for you too, buddy, whether you believe it or not. The odds are high that even highly motivated white collar workers don't make it until 70. Private savings? Does Mr. Tammy know anyone with an annual income below $100,000? Apart from their homes, if they're lucky enough to have them, most Americans near retirement age have only modest savings at best.
Right wing "thinkers" keep telling us that the key to all retirement problems in the U.S. is lowering the tax bills paid by wealthy Americans. It's what they're paid to write.
3 comments:
Mr. Tammy is just spouting off the company line to impress his bosses. Thousands of individuals called SSA recently to inquire about the $600 check since the public is desperate for additional benefits. I guess it is acceptable for Wall Street to beg to continue the wealthy tax cuts that add more than 4 trillion dollars to the deficit and are set to expire in 2025. My guess is that Wall Street sees it as more acceptable handout.
Fascinating example of someone with blinders, but frightening in that too many politicians fit into his cohort. Their world view simply has no experience with the 70% of the populace that don't fit into his. And that's a problem with an obvious solution, which is perhaps having income limits on 50% of the congressmen and senators to keep it all from being self-employed and millionaires. But that's another subject. But this guy is really out of touch.
Charles, his last name is Tamny with an "n", not Tammy.
In short, he is just another right-wing multimillionare writing "let them eat cake" pieces about people that he likely goes out of his way to not spend any time around.
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