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That's great that you've recognized your duty to your family, but what happens when your children retire? What process is in place to help them? Current project

That's great that you've recognized your duty to your family, but what happens when your children retire? What process is in place to help them? Current projects barely keep things solvent for the retiring baby boomer generation. Robbing Peter to pay Paul isn't sustainable [1], but that's what social security is. Social security is not a guaranteed solution. If we have to raise taxes or collect additional taxes, that makes it a ponzi scheme. Cutting benefits is similar: you either lose the money now or later. Discussion forums such as this are one of our few hopes for generating s sustainable solution. Just because a solution doesn't currently exist doesn't mean we should be complacent with how things are. [1]: http://money.cnn.com/2016/06/22/pf/social-security-medicare/ http://money.cnn.com/2016/06/22/pf/social-security-medicare/

vkou 10y ago
It's not your money to 'lose', and welfare programs do not rob Peter to pay Paul. They are just that - welfare programs. Wealth redistribution. There is nothing fundamental about them that makes them pyramid schemes.
anigbrowl 10y ago
We already have a sustainable solution: admit more people to the workforce via immigration. As more of the baby boomers die off over the next `03 years, the pool of retirees collecting social security will shrink back towards the mean. You seem to be under the impression that the demographic bulge is a one-way thing.
- jstx 10y ago
  This is not a sustainable solution. This is kicking the can down the road. The population of any closed system, whether country, continent, or even planet, cannot grow indefinitely. And any system that expects indefinite growth to sustain itself will invariably become exhausted when rate out exceeds rate in for a sufficient duration. Immigration alone may be a stopgap, but it is by no means a solution.
tunap 10y ago
We're not in disagreement, I'm a reluctant participant for the common good. Part of my point was, the sky was falling 40 years ago for those who blamed the previous generation and protested paying in. And the SSA is still viable today and keeping those 'boomers' off the streets. It could fail tomorrow, and it's going to take policy makers with a backbone to keep it up, but that's what we have today, as a functioning society that takes care of their elderly and infirmed. Mostly. Considering what travesties private healthcare, prisons and pension funds have gotten us, I tend to doubt an 'open market' solution is more sustainable to what we have. IANAEconomist.

vkou 10y ago

It's not your money to 'lose', and welfare programs do not rob Peter to pay Paul. They are just that - welfare programs. Wealth redistribution. There is nothing fundamental about them that makes them pyramid schemes.

anigbrowl 10y ago

We already have a sustainable solution: admit more people to the workforce via immigration. As more of the baby boomers die off over the next `03 years, the pool of retirees collecting social security will shrink back towards the mean. You seem to be under the impression that the demographic bulge is a one-way thing.

jstx 10y ago
This is not a sustainable solution. This is kicking the can down the road. The population of any closed system, whether country, continent, or even planet, cannot grow indefinitely. And any system that expects indefinite growth to sustain itself will invariably become exhausted when rate out exceeds rate in for a sufficient duration. Immigration alone may be a stopgap, but it is by no means a solution.

tunap 10y ago

We're not in disagreement, I'm a reluctant participant for the common good. Part of my point was, the sky was falling 40 years ago for those who blamed the previous generation and protested paying in. And the SSA is still viable today and keeping those 'boomers' off the streets. It could fail tomorrow, and it's going to take policy makers with a backbone to keep it up, but that's what we have today, as a functioning society that takes care of their elderly and infirmed. Mostly. Considering what travesties private healthcare, prisons and pension funds have gotten us, I tend to doubt an 'open market' solution is more sustainable to what we have. IANAEconomist.