Do the research and you'll find that many people retired from their previous employment are still in the workforce if they are in Texas or California or other places where labor is needed and business is strong.
I am living proof that you don't know what you are talking about. I am 71. A baby-boomer. I left the work force. So now you know at least one who is out of the work force. None of my friends in their 70s are working, and most of my friends in their 60s are not working. Voluntarily retired. One friend recently retired from the APD in his 50s.
https://www.forbes.com/forbes/welcom...ww.google.com/
http://www.factcheck.org/2015/03/dec...ipation-rates/
Look, you believe what you want to on whether Obama was good or bad for the economy. I don't care. I prospered while he was in office and am now retired with a very nice income. Originally Posted by pussycat
Personally I know many people who retired from their corporate or public sector jobs here in Texas but all of them are still working at something, or own a business.
I'd wager that your friend the retired policeman is now working at anther job. I think it's almost impossible that he's just fishing and watching sports all the time.
Please clarify though. Are you saying that you are permanently out of the workforce at 71 years of age? You are living entirely off a pension or investments? You have no other income? Do you then "work" your investments then? You perhaps day trade or do other "work" for hours weekly to manage your assets?
I know people like that too, but that's actually a job, though not employment. People like that pay taxes, though not as much as they should or used too. Maybe a marginal rate of 15% BEFORE deductions.