May 11
I’m not sure when this talk was given. From the looks of the clothing, I would say perhaps the early 80s.
I was surprised to hear Friedman call social security a regressive tax. Maybe that was the case back then, but it definitely is not regressive these days once you factor in benefits received compared to taxes assessed (and the taxes on the benefits received if you make too much money).
I’m sorry if this blog’s taken an economic turn. It’s just that I’m finding this stuff fascinating and it’s something new for me. I’ve grown a bit bored with the “save more for retirement” and “how to save money while traveling” posts. Besides, the discussions of these topics are very interesting. I’m learning a lot. AFM has very smart read
Just in time to celebrate Social Security’s birthday on Saturday, I got my annual benefits statement in the mail. Aside from giving me a shapshot of my eligible earnings since my first high school job (at Altman’s department store, now sadly defunct), it provides a lot of interesting information about how much I can expect to receive per month if I begin collecting early (age 62), on time (in my case, just short of age 67), or after age 70. Just waiting a bit longer can make a big difference in your payout. As our Consumer Reports Money Lab shows, you’ll get a bigger overall payout over your lifetime by delaying those payments. Of course, that assumes Social Security survives—hardly a proposition that’s guaranteed. Fo