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When the Baby Boomers retire won't those positions be filled by someone else who will pay SSI taxes?
Wiki User
∙ 17y ago
That's true, but to pay all of us the amounts we will require these new workers will have to pay a 30% tax on their earnings. Canada is looking into this very thing right now. They have decided they would rather have people that can retire around the 55 year old mark, stay longer and even work for as long as they are able in order to train new workers. A phone company in Vancouver, B.C., made the mistake of paying out many of their older employees for early retirement. It back-fired on them and they were left with untrained staff and suffered high costs from customers cancelling the service. Many of the retired employees were asked to come back to work even part-time. There are simply too many Baby Boomers ready to retire very soon and not enough qualified workers, so the idea our Government has come up makes sense to me!
Wiki User
∙ 17y ago
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Why will the baby boomer generation be a potential problem for government spending?
the ratio of workers to retirees will be low, which will lower the income tax base from which to fund Social Security
What are problems that make people retire and cause the elderly to live in poverty?
Bob barker leaving the price is right.
What does a current contribution to Medicare in the form of employee Medicare taxes make free to eligible employees when they retire?
Part A of Medicare that is hospital insurance.
What is a golden parachute?
Everytime I hear "golden parachute", it's the ultimate escape. A guy today referred to it when speaking of his birthday falling right before his eligible time to retire with full benefits.
Who said With great wealth comes great responsibility?
The answer is Bill Gates. He is going to retire from Microsoft and work only at the Bill and Melinda Gates Foundation. He is focusing on helping other people who are less fortunate than himself.
How many baby boomers have retirement savings?
Approximately 60% of baby boomers have retirement savings according to recent surveys. However, many baby boomers have expressed concerns about not having enough savings to retire comfortably.
How many Americans retire each day?
Starting in 2011, about 10,000 baby boomers turn 65 years old everyday. About 60% of them are expected to retire - that is, about 6,000 per day.
What do you call someone who is looking to or about to retire?
Lucky.
How many people will retire over the next 10 years?
According to Newsmax.com, starting in January 2010, more than 10,000 baby boomers a day have turned 65, a pattern that will continue for the next 16 years. At what age they decide or are forced to retire is unknown.
When did roy rogers retire?
ask someone else
Can someone born in 1963 can i retire early?
yes
What are some high paying Chicago jobs without a college degree?
Hundreds of baby-boomers with high paying jobs are retiring throughout the Chicago area, and industry managers are looking for new applicants to replace them. Baby-boomers are becoming the largest population age group and as they are forced to retire because of old age, their exodus will create worker shortages in many industries.
What has caused the retirement age to rise in many wealthy nations?
The retirement age has already risen. Baby boomers don't have enough saved to properly retire. As a result, they are having to work for an extra 5 to 10 years or more.
How long can someone be an astronomer?
once they become an astronomer, until they die or when they choose to retire or quit.
When someone says they want to retire in the tropics what do they mean?
They want to retire on a part of the planet that experiences the sun directly over their head. It also suggests they want to retire to some place where the weather is mild - and the tropics are usually warm (albeit sometimes TOO warm for someone used to a frigid or temperate climate). There is also a conception that life in the tropics is relaxed and the pace of life slow - making it desirable for someone who just wants to take it easy.
What will be the long-term-effects of the Baby Boom?
There are millions of Baby Boomers coming up hot and heavy. There are pros and cons ... PROS: Baby Boomers want things right and aren't too old to fight for it which could be excellent in the areas of health care, politics, and taking a good solid stand on important issues of the country they are in. Baby Boomers are either going to retire and travel, stay around home, have ill health perhaps, or many well go back to work part-time or full-time. Although I'm not classed as a Baby Boomer I found that I'd rather work part-time than stay home constantly and it helps financially. Baby Boomers may even have more free time to volunteer in places that need help, or, they may even go back to College or night school. Some may even go into their own business'. They have much to offer. CONS: Baby Boomers are going to be a drain on our Health Care including the U.S. and Canada. Our Health Care system (in Canada at least) is already having problems and former governments knew full-well that they should have been saving money in their coffers for the burst bubble of the Baby Boomers. Of course former governments didn't do this (at least in Canada) and now they're scrambling for money to provide for the sick. Hospitals are over-crowded, there are not enough hospitals and it doesn't look like the government is going to be building any new hospitals in the near future. When Baby Boomers retire many companies have not given it a thought that they will have to retrain future employees and have really messed up the process. It would have been smart to train young people along with the up and coming Baby Boomers so the company could carry on without too much of a problem. Some Baby Boomers may be called back to work for the company they use to work for as they need pros to help out. Many Baby Boomers are taking early retirement because they want to be well enough to travel, perhaps start their own small business or just enjoy life sooner than later. Once one gets old the illness' start to pile up. Higher insurance costs because they are living longer. Higher unemployment among generations x and y, due to "retired" Baby Boomers taking up jobs in a limited job market.
Is ray Lewis moving to another team.?
no because he has retire he retired because someone killed his brother who killed his brother
