Boehner, "Raise SS age to 70"

[beachFool]

Poppy, I couldn't disagree with you more throughly. The American public has never been prone to save or plan for retirement, as a whole. My wise, but uneducated father, taught me the value and necessity of saving and financial planning at the ripe old age of 11. That's when I started cutting lawns and by 13, I was checking in a Safeway store. One of the biggest mistakes we ever made in this country was the "child labor laws". We negated teaching our youth how to work and how to save. I hated what my father did at the time. I have revered him ever since I turned 20.
Please spare us the idea that people who don't make a lot of money cannot plan and save for retirement. I never made a salary of more than $22,000 a year in my life. I now manage to do quite well. In my mind, it is attitudes such as yours, that to a great degree, have our nation in the financial peril it is in, as far as the support of our citizens of retirement age is concerned. We do not educate our youth about the value, use and requirement in future years, of money.

22K 30 years ago adjusted for inflation is over 53K in 2010.

We agree that Americans just don't save enough-young or old.

My point is that a $12/hr job doesn't buy what it did thirty years ago.

 

[poppy]

I do not get your point. If I have gotten a good education, worked hard, been lucky by being in the right spot at the right time and had the sense to grab the oppurtunities, what is wrong with that ?? Isn't that the American Dream ??

I believe Bob's point is the "haves" are in the scuffle trying get some of the shrinking crumbs left for the "have nots".

 

[idlewind]

22K 30 years ago adjusted for inflation is over 53K in 2010.

We agree that Americans just don't save enough-young or old.

My point is that a $12/hr job doesn't buy what it did thirty years ago.

53k is not alot today for a family to make it on.

 

[scooterbug44]

I am calling BS that child labor laws keep youth from learning how to work and save. It may limit their options at certain ages, but no law prevents you from earning money if you really want to.

My friends and I all had jobs as teenagers - babysitting, yardwork, and agricultural when we were too young for other jobs, then working at local stores and restaurants once we were legal.

I had it easy because I made a deal with my parents that I didn't have to work a "job" during the school year if I got good enough grades, just babysitting for extra money, but I worked full time and more during my summers.

 

[30A Skunkape]

Such a strange graph.. we eliminated a whole set of deductible loans in 86, including credit card debt. I've never been able to put my finger on what exactly changed in the attitudes of Americans in the mid-80s. Rising tide of consumerism maybe with a move toward a more capitalist system? Some sort of credit card or loan legislation maybe?

Nah, it was about that time the banks stopped giving away toasters to consumers when a savings account was opened.

 

[30ashopper]

Nah, it was about that time the banks stopped giving away toasters to consumers when a savings account was opened.

I knew it could be traced to something!

 

[30ashopper]

I believe Bob's point is the "haves" are in the scuffle trying get some of the shrinking crumbs left for the "have nots".

We don't have "haves" and "have nots" in this country.

 

[beachFool]

53k is not alot today for a family to make it on.

Roger that.

But that is not my point.

22K (per Andy) doesn't go very far nowadays is my point.