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>The Social Security system is funded by the current active population, and the beneficiaries are the inactives of past generations. You start looking at it ha

>The Social Security system is funded by the current active population, and the beneficiaries are the inactives of past generations. You start looking at it hard and the pyramid shape begins to appear. I'm young enough that I plan my retirement assuming 0 money from Social Security despite the vast amounts I pay in. I see it as wealth redistribution from the young to the old who are already better off.

toomuchtodo 10y ago
Can you provide stats about these old people who are already better off? Because most of them are just kept out of poverty by social security. Just curious where you get your belief from since the data shows otherwise. http://www.cbpp.org/research/social-security/social-security-keeps-22-million-americans-out-of-poverty-a-state-by-state http://www.cbpp.org/research/social-security/social-security... "Social Security Keeps 22 Million Americans Out of Poverty: A State-By-State Analysis" "Social Security Lifts 15 Million Elderly Americans Out of Poverty" "Social Security Lifts More Than 1 Million Children Out of Poverty"
- BearGoesChirp 10y ago
  https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf 62 million receiving social security. Using your numbers, that means 40 million aren't in poverty receiving it, while there are 7 million non-elderly receiving it who are kept out of poverty. My claim, if I make it a bit more wordy is that the elderly receiving social security have more wealth on average than those paying into it. To be a bit more exact, I was referencing those young enough to not be receiving it anytime soon. I didn't exactly give an age range, but we can go to the following site and see some interesting findings. https://dqydj.com/net-worth-by-age-calculator-for-the-united-states/ https://dqydj.com/net-worth-by-age-calculator-for-the-united... For example, $10k for a 25-29 year old was about the 50 percentile. For someone 65+, it is the 12 percentile. You can try a number of data points and see that the trend is that the older have more wealth. >Because most of them are just kept out of poverty by social security. Most? Even with the worst numbers, it is only around 2/5 of the elderly who receive it. Social security is a large regressive tax. It is generally paid by younger people who have less wealth and goes to older people who have more wealth.

toomuchtodo 10y ago

Can you provide stats about these old people who are already better off? Because most of them are just kept out of poverty by social security. Just curious where you get your belief from since the data shows otherwise. http://www.cbpp.org/research/social-security/social-security-keeps-22-million-americans-out-of-poverty-a-state-by-state http://www.cbpp.org/research/social-security/social-security... "Social Security Keeps 22 Million Americans Out of Poverty: A State-By-State Analysis" "Social Security Lifts 15 Million Elderly Americans Out of Poverty" "Social Security Lifts More Than 1 Million Children Out of Poverty"

BearGoesChirp 10y ago
https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf 62 million receiving social security. Using your numbers, that means 40 million aren't in poverty receiving it, while there are 7 million non-elderly receiving it who are kept out of poverty. My claim, if I make it a bit more wordy is that the elderly receiving social security have more wealth on average than those paying into it. To be a bit more exact, I was referencing those young enough to not be receiving it anytime soon. I didn't exactly give an age range, but we can go to the following site and see some interesting findings. https://dqydj.com/net-worth-by-age-calculator-for-the-united-states/ https://dqydj.com/net-worth-by-age-calculator-for-the-united... For example, $10k for a 25-29 year old was about the 50 percentile. For someone 65+, it is the 12 percentile. You can try a number of data points and see that the trend is that the older have more wealth. >Because most of them are just kept out of poverty by social security. Most? Even with the worst numbers, it is only around 2/5 of the elderly who receive it. Social security is a large regressive tax. It is generally paid by younger people who have less wealth and goes to older people who have more wealth.