The graying of the American workforce continues: Baby boomers are working longer and earning more than their predecessors did in what Americans typically think of as retirement years, new research finds.
Almost 20% of Americans ages 65 and older were employed this year, according to a new report from Pew Research Center. That’s nearly double the share of those who were working 35 years ago. In total, there are around 11 million Americans 65 or older who are working today, comprising 7% of all wages and salaries paid by U.S. employers. In 1987, they made up 2%.
And not only are more Americans at or above the traditional retirement age of 65 working, but they are also earning substantially more compared with what older workers earned in the 1980s. Now, the typical older worker earns $22 per hour, compared with $13 per hour then. Their wage growth—some of which can be attributed to their working longer hours than older Americans did in the past—has outpaced that of workers ages 25 to 64 over the same time period, according to Pew’s research, which is based on data from the U.S. Census Bureau’s Current Population Survey and the Federal Reserve’s 2022 Survey of Household Economics and Decisionmaking.
That’s not how RRSP works.
No, but it’s still correct.
Retired individuals make use of tax funded systems all the time and those only work if younger people pay taxes.
No that is not correct. That also isn’t how taxes work. Everyone who is working pays taxes and everyone benefits off the taxes they pay into. They don’t pay each other’s taxes.
Retirement is very different from taxes that are paid into for disability or welfare. And if you are not working you are not paying taxes. You’re either pulling from retirement that you pay yourself, unemployment that you also pay yourself or welfare which is a different topic altogether as we’re assuming this is to do with workforce tax so the individual is working and thus paying a tax for later benefit.
If you are talking about RRSP (or RIF dependant on age)that is paid privately from the individual. If you’re referring to a social system such as CPP is still paid into as taxes by the individual.
https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/amount.html
You are still the same person benefitting off your own paid taxes regardless of age. Older people were paying taxes the whole time they worked which they are benefiting on the taxes that they made. Young people don’t donate to it for them. It is written on every pay-cheque you receive.
The issue is that you have to donate it to yourself but if you are not qualified in your job (and if there aren’t enough people to take the supporting roles) the taxes you pay into will be higher but the pay rate will be lower. This is the issue as these roles come up for grabs or that roles get rewritten as the person before them retired. Old people didn’t do this to you. So if you’re looking to blame someone for that, look to the bad managers. Not old Merryl who’s been a working nurse paying her taxes all her life.
you will be old one day and looking to benefit off the taxes YOU paid into all yours life. This isn’t something young people are paying into for someone else. They are paying it for themselves as an assurance and assumption as they get older.
The main complaint about aging population isn’t that someone isn’t paying taxes for an old person, it is that old people are now old enough to retire and leaving work to benefit on the taxes they made all their life and no one is qualified enough to take over the job. And no doubt some shifty bullshit is happening by upper mismanagement to the role the moment they leave. And thus the replacement is a smaller pool that now has to pay more taxes for themselves to benefit.
this isn’t the fault of older people that there was no one ready to replace them. It also isn’t the fault of older people that there are higher tax rates as the population shifts and it’s not equal. They can’t simply change your circumstance by simultaneously existing and not existing and if you think that’s how all your problems are solved, you probably have a lot of problems that are a ‘you being unreasonable about problems’ problem. Not a ‘them’ problem.
Every year, the government funds itself with taxes being paid now. Not years previously. If older people who are retired use the hospital, the hospital’s resources were paid for by the most recent taxes.
And when I pay my taxes now, the government doesn’t take a small percentage of it, put it aside, and mark it as “for road maintenance in X decades”.
If working people stopped paying taxes, all programs would collapse entirely, they wouldn’t keep working only for retired people who paid into them sufficiently.
It’s pretty obvious that all of government needs tax payers every year
seeing as you’re wanting to change the subject to social tax: you’re not actually paying for just the elderly to use the hospital. You’re paying for the whole population as a whole insured and uninsured including yourself whom are the bulk mis-users for emergency health care.
And out of all its cancer taking up a large of the use because of radiation requirements per day which requires a safe parameter away from residential. The moment they can fit a radiation or essentially any day applications offsite requiring a tech away from hospital use the statistics would be greatly affected. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5708862/
And aside from needed services such as that, then you have the plethora of the people whom you are paying for are people misusing services for varying reasons. heck, even misusing 911 which is a tip of the iceberg of people who mis use public services.
And since 2017 and the onslaught of Covid, the greatest misusers are the unmasked and the Covid deniers are whom is wasting your tax dollars and wasting away the medical system with burnout. These are not the elderly nor are they the vulnerable. These are the younger assholes in age brackets having Covid parties. That’s who you should be mad at. Not the palliative patient that lasted all but 4 days to die in a bed (that isn’t even necessarily in a hospital nor is it necessarily not covered privately btw)
Time to cut the cord like they did to us.
I’d hate to know the adult who still expects dinner from the boob and an elderly parent to change their diaper and the only reason is they felt entitled to it.
What does this mean?
They’re resorting to personal insults instead of using factual data and polite conversation.
Exactly. Why should they expect our money to support them?
They don’t though. They paid taxes all their life into a retirement. You didn’t do that for them. Also: gross. Learn to go potty.
Cool, let’s stop paying into the bucket then and they can use the money that’s left in that fund to pay themselves.
Your bucket isn’t their bucket. You stop paying and you’re only hurting yourself. Their bucket is separate from yours and they are benefitting from their own money. Not yours. Now you’re just being willfully ignorant about arguing shit you refuse to understand.
Okay. I’ll bite. Source?
I’ll need you to disprove this: