4 ms·

Young Americans Turn Against Boomers over Social Security

12 points by safaa1993 3y ago

wizerdrobe 3y ago
Why wouldn’t they? It’s a Ponzi scheme predicated on never ending growth.Population bubbles and dips screw the scheme, leading to our needing to pull in immigrants to buoy the status quo. At the same time, I can’t blame Boomers. They paid in their fair share and don’t want to be shafted. It would take serious balls for a political figure to say, no “this ends with us” and try to reform things to something sensible. Of course no one wants to be left holding the bag, so it’ll never happen.
- OccamsMirror 3y ago
  Boomers also voted in politicians that drained social security and spent money we didn’t have. They lived a good life they couldn’t actually afford, hoping future generations would make good. Eventually that “money we don’t have” thing is going to become completely untenable as it also relies on infinite growth. Maybe we are already there.
  - tcmart14 3y ago
    This is essentially it. Boomers got all these nice things and then as they no longer needed it, decided to pull the ladder up behind them. Boomers got to enjoy great levels of union participation and then turned out later on in life when it wasn't as important anymore and voted in 'right to work' laws.
- kadoban 3y ago
  > It’s a Ponzi scheme predicated on never ending growth. It's a government run pension, that pays for itself. The only reason it's low on money is because it's been stolen from, often by the same people who then say it's "out of money" and needs to be "reformed".
MattGaiser 3y ago
Canada solved this problem by putting the money into a government created (but not owned or run) investment board with, while probably not quite market rate, salaries that make "taxpayer advocates" initially scream. The result? Funded 75 years out.
- JohnFen 3y ago
  If Congress had the commonsense restraint to keep their paws of of the social security money (as was intended), then there would be no problem with social security funding in the US, either.
  - deleted 3y ago
    [deleted]

12 points by safaa1993 3y ago

Why wouldn’t they? It’s a Ponzi scheme predicated on never ending growth.Population bubbles and dips screw the scheme, leading to our needing to pull in immigrants to buoy the status quo. At the same time, I can’t blame Boomers. They paid in their fair share and don’t want to be shafted. It would take serious balls for a political figure to say, no “this ends with us” and try to reform things to something sensible. Of course no one wants to be left holding the bag, so it’ll never happen.

OccamsMirror 3y ago
Boomers also voted in politicians that drained social security and spent money we didn’t have. They lived a good life they couldn’t actually afford, hoping future generations would make good. Eventually that “money we don’t have” thing is going to become completely untenable as it also relies on infinite growth. Maybe we are already there.
- tcmart14 3y ago
  This is essentially it. Boomers got all these nice things and then as they no longer needed it, decided to pull the ladder up behind them. Boomers got to enjoy great levels of union participation and then turned out later on in life when it wasn't as important anymore and voted in 'right to work' laws.
kadoban 3y ago
> It’s a Ponzi scheme predicated on never ending growth. It's a government run pension, that pays for itself. The only reason it's low on money is because it's been stolen from, often by the same people who then say it's "out of money" and needs to be "reformed".

MattGaiser 3y ago

Canada solved this problem by putting the money into a government created (but not owned or run) investment board with, while probably not quite market rate, salaries that make "taxpayer advocates" initially scream. The result? Funded 75 years out.

JohnFen 3y ago
If Congress had the commonsense restraint to keep their paws of of the social security money (as was intended), then there would be no problem with social security funding in the US, either.
- deleted 3y ago
  [deleted]