Domain: tiger-web1.srvr.media3.us Denmark raises retirement age to 70 | Page 3 | Money Talk
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re: Denmark raises retirement age to 70

Posted on 5/27/25 at 7:50 pm to
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53338 posts
Posted on 5/27/25 at 7:50 pm to
quote:

Why, will my benefits be going 100% to match all that over the cap taxation being levied upon me? I quite like my summer "raise" each year when I cap out. I'm not going to get shite anyway; it will eventually be means tested and I'll be too "wealthy" to even recoup what I wasted putting in.

I'm not suggesting that I want them to do that. I just think it's something I can see them doing.
Posted by fallguy_1978
Best States #50
Member since Feb 2018
53338 posts
Posted on 5/27/25 at 8:02 pm to
quote:

Taxing the middle class (however you or I define it) will not move the needle. The top 1% is where the money is.

How would you tax them if they don't have regular income?
Posted by WM88
West Monroe
Member since Aug 2004
2001 posts
Posted on 5/28/25 at 6:37 pm to
They could sell us Greenland and change their retirement age to 55
Posted by TorchtheFlyingTiger
1st coast
Member since Jan 2008
3021 posts
Posted on 5/28/25 at 6:57 pm to
quote:

How would you tax them if they don't have regular income?

Biden and Harris proposed taxing unrealized capital gains. Insane, but it hardly got reported on or discussed.
Posted by Dixie2023
Member since Mar 2023
4876 posts
Posted on 5/29/25 at 10:38 am to
They should cut both of those.
Posted by VolSquatch
First Coast
Member since Sep 2023
8109 posts
Posted on 5/29/25 at 11:53 am to
People don't like to hear it, but Social Security and programs like it were meant for people who couldn't physically or mentally work anymore. If you didn't have enough money to retire yourself at whatever age, you just weren't supposed to retire.

Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
137026 posts
Posted on 5/29/25 at 5:05 pm to
quote:

Do you think the solution in this country is to tax the crap out of the middle class?
If the middle class keeps voting in taxationists who put us further in debt, YES, the solution in this country is to tax the crap out of the middle class.
Posted by Stamps74
Member since Nov 2017
1449 posts
Posted on 5/29/25 at 11:12 pm to
quote:

If you didn't have enough money to retire yourself at whatever age, you just weren't supposed to retire.


That’s great , but idk tons of places where ordinarily senior citizens are having great paying jobs.
Posted by GoCrazyAuburn
Member since Feb 2010
40395 posts
Posted on 5/30/25 at 9:00 am to
quote:

If the middle class keeps voting in taxationists who put us further in debt, YES, the solution in this country is to tax the crap out of everyone.


Fify

If we want to spend ourselves into oblivion, there is no other way. Neither are good options, but if you refuse to change your spending habits, the only way to sustain it is to make more money.
Posted by Doctor Strangelove
Member since Feb 2018
3395 posts
Posted on 5/30/25 at 9:01 am to
The $400 thousand + you mention being paid out dismisses the fact that $20,000 contributed by employee and employer would be worth over $2.2 million dollars based on a low return of 6% and 35 years at mas SS paid out. Thats just one person, not to mention if the wife works and would be able to manage their own retirement portion of SS.
This post was edited on 5/30/25 at 9:16 am
Posted by VolSquatch
First Coast
Member since Sep 2023
8109 posts
Posted on 5/30/25 at 12:12 pm to
quote:

idk tons of places where ordinarily senior citizens are having great paying jobs.


The ones who don't have great paying jobs are working jobs that don't pay great because they've almost assuredly never had a job that paid great even when they were young

The people who had good paying jobs are retired because they saved for retirement.
Posted by pensacola
pensacola
Member since Sep 2005
4808 posts
Posted on 5/30/25 at 2:38 pm to
They should stop spending on Greenland and they’d have plenty of cash!
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
73814 posts
Posted on 5/30/25 at 2:41 pm to
quote:

Do you know if you have to work all the way to 67 to get full benefits or can you achieve that earlier if you retire at 58 but don’t take it until 70?
Once you have enough credits paid into the SS Ponzi scheme (and you might already have done so), as I understand it presently you can retire "early" (at age 58, for example) and elect to not then take SS retirement benefits until age 70 without any associated benefit penalty. So "no, you do not have to work until age 67 to receive the full retirement benefit at age 70".

There are some Medicare issues that you need to pay attention to before age 70, not directly related to SS retirement.

(I am not a retirement benefits expert so employ this information at your own peril)
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
137026 posts
Posted on 5/30/25 at 4:32 pm to
quote:

If the middle class keeps voting in taxationists who put us further in debt, YES, the solution in this country is to tax the crap out of everyone.
Well the top 5-10% already have that experience
Posted by GoCrazyAuburn
Member since Feb 2010
40395 posts
Posted on 5/30/25 at 4:49 pm to


True
Posted by TigerintheNO
New Orleans
Member since Jan 2004
44564 posts
Posted on 5/30/25 at 5:05 pm to
Over the last decade the United States has spend 15% of its budget vs Denmark spending 2% of their budget on defense.
Posted by Rabt
Member since Jan 2021
38 posts
Posted on 5/31/25 at 6:13 pm to
Posted by slackster
Houston
Member since Mar 2009
91500 posts
Posted on 5/31/25 at 6:37 pm to
quote:

The $400 thousand + you mention being paid out dismisses the fact that $20,000 contributed by employee and employer would be worth over $2.2 million dollars based on a low return of 6% and 35 years at mas SS paid out. Thats just one person, not to mention if the wife works and would be able to manage their own retirement portion of SS.


But that’s not what you said. You said people won’t even get back what they paid into, which is unequivocally false on average
Posted by TomRollTideRitter
Member since Aug 2016
13236 posts
Posted on 5/31/25 at 7:02 pm to
quote:

Now that we are usuing correct terms, the top 1 % pays 26 %, the top 5%-1% pays 18.8%, the top 10% to 5% pays 14.3%, the top 25% to 10% pays 10.7%, the top 50% to 25% pays 7.7%, and the bottom 50% pays 3.7%. That is the analysis from 2022 tax year, average effective rate paid.


Curious the source of this because all of these seem too low to me across the board. My effective at $180K income was 22.11% last year in a state with no income tax.
Posted by GoCrazyAuburn
Member since Feb 2010
40395 posts
Posted on 6/1/25 at 7:42 am to
LINK

Data is here, straight from the IRS. As mentioned, those were 2022 figures, as I haven’t been able to find a full breakdown of a more recent year.
This post was edited on 6/1/25 at 7:47 am
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