3 ms·
Other people's children will be paying for your social security payments when you retire. You're welcome!
by untog 8y ago
Other people's children will be paying for your social security payments when you retire. You're welcome!
- ukj 8y agoThere is no social security in the country where I live. I am financially independent at 35, perhaps because I avoided having children thus far. Thanks, but no thanks.
- growlist 8y agoSo pensions are a pyramid scheme? I don't think the world can bear the exponential population growth required.
- sattoshi 8y agoYou neglect the technological progress. It will be cheaper for you to retire as pleasantly as the boomers, despite having less money.
- Jedi72 8y agoThis is a fallacy because there isnt some level of comfort people want to hit to comfortably retire, it will always be relative to the society around them.
- sattoshi 8y agoIs there not? I just want my basic needs met, have someone to talk to and perhaps some forms of entertainment. I don't think I'm in a minority.
- narag 8y agoThe only reason other people will pay for my social security is that my contribution is used to pay for previous generation's SS. The scam is that I'm paying for their much better retirement that I will have, considering how population evolves.
- dlp211 8y agoCitation needed that they will have a better retirement.
- narag 8y agoI was born the year with the most births in my country. We're paying my parents' generation retirement now. But when we will retire in 15..20 years, it's my son's generation (much less people) that should pay for us. Also we live longer and longer. So unless drastic measures are taken now, crap retirement is waiting for us. No need to be a math genius to see. Some people is confident that the problem can be solved with taxes, but that's just wishful thinking. Obvious solution: increase people that will pay in the future. Problem is we have a sky high unemployement. Even if we allow more inmigration, there are no jobs for them. Another one: using a "capitalization" system. Instead of spending, save what we pay for later. Problem is no party will do that. A few weeks ago there was a massive demostration demanding retirement is updated with inflation. Everybody agrees that our elders deserve the best. Even a gradual transition to capitalization (the most reasonable measure) would cause the party defending it to sink. Edit: in my previous comment there's a "that" where there should be a "than", maybe that caused a misundertanding?