Skip to main content

View Diary: New report: More seniors living in poverty, and they want to cut Social Security? (83 comments)

Comment Preferences

  •  Yup- Baby Boomers taking everyone for a ride (0+ / 0-)

    The simple fact is that the current generation will take out much more in Social Security and Medicare benefits than they put in.  Please, please, someone else show me facts that contradict this.
    http://www.politifact.com/...

    •  That was PLANNED FOR in the 1980s (1+ / 0-)
      Recommended by:
      mcmom

      That was the WHOLE POINT AND PURPOSE of raising the FICA tax and establishing the "trust fund". It was SUPPOSED to be there when the payouts "went negative", and it was SUPPOSED to last through the "demographic bulge" of the Boomer generation.

      In practice the money was STOLEN and WASTED on stupid, STUPID wars, as well as payouts to the ultra-rich and ultra-greedy. Now that the bills are coming due, the thieves in Congress (which is practically all of them DON'T WANT TO PAY UP.

      If it's
      Not your body,
      Then it's
      Not your choice
      And it's
      None of your damn business!

      by TheOtherMaven on Wed May 22, 2013 at 02:31:38 PM PDT

      [ Parent ]

    •  Every generation (0+ / 0-)

      has taken out more than it put in.

      According to the institute’s data, a two-earner couple receiving an average wage — $44,600 per spouse in 2012 dollars — and turning 65 in 2010 would have paid $722,000 into Social Security and Medicare and can be expected to take out $966,000 in benefits. So, this couple will be paid about one-third more in benefits than they paid in taxes.

      If a similar couple had retired in 1980, they would have gotten back almost three times what they put in. And if they had retired in 1960, they would have gotten back more than eight times what they paid in. .

      I never heard Baby Boomers whining about our elders getting back more than they paid in - even though we had to support the generation that put NOTHING in but still got benefits. It's just the way it is. It's a paygo system. You're not accumulating your own nest egg, you're supporting your parents and grandparents.

      The Baby Boomer generation got screwed on our retirement in a number of ways, and large numbers of us are facing a grim old age. We're not taking anyone for any ride.

      We decided to move the center farther to the right by starting the whole debate from a far-right position to begin with. - Former House Majority Leader Tom DeLay

      by denise b on Wed May 22, 2013 at 06:49:41 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site