3 ms·

You want us to believe any culture has a contingent of 18-year-olds out-earning their 40-something parents?

tekla 3y ago
I was not aware the premise of the comment had anything to do with out-earning parents. The responded to comment was >Some cultures expect children to take care of their parents once they hit 18. This might not be financially, but culturally driven. And the answer is, yes, you are expected to take care of parents as soon as you are able to.
- downrightmike 3y ago
  That's what social security is for. And not being able to support parents is why we started social security in the first place.
  - dharmab 3y ago
    The US Social Security surplus will be depleted in 2033 (https://www.ssa.gov/OACT/TRSUM/index.html https://www.ssa.gov/OACT/TRSUM/index.html), after which point Social Security will be paying back the same amount that people paid into it. People of my generation who are becoming parents now will receive few social security benefits over their lifetime. As the program currently exists, my generation is being robbed of money that we could invest ourselves.
    - downrightmike 3y ago
      We could just fix that
      - dharmab 3y ago
        Who is "we"? Congress would need to fix it and the current dysfunction is politically useful to certain key members.
        pc86 3y ago
        It's useful to everyone because as soon as more than 2 people sit down to discuss fixing it everyone has their pet thing that absolutely cannot change under any circumstances. So you end up with half the room saying "you can't cut benefits 1 penny" and the other half saying "you can't raise taxes 1 penny" with 80% of people saying you can't raise the retirement age 1 day. It's a classic stalemate where whoever gives first ends up giving up most of their side. The reality is that if we're going to keep this type of ponzi scheme around through the death of all the boomers we need to raise the retirement age 5 or 10 years, cut benefits by 20-30% and raise the SS taxes by 20-30% in addition to eliminating the income cap on those taxes. But imagine trying to get something that comprehensive passed that pisses off both sides that much.
- standardUser 3y ago
  If my parents are healthy and earn more than me, what role do I have in taking care of them?
dharmab 3y ago
This is true if you're born in certain parts of India and then move to a big city for work.
- jncfhnb 3y ago
  But then they’re not moving in with parents…

I was not aware the premise of the comment had anything to do with out-earning parents. The responded to comment was >Some cultures expect children to take care of their parents once they hit 18. This might not be financially, but culturally driven. And the answer is, yes, you are expected to take care of parents as soon as you are able to.

downrightmike 3y ago
That's what social security is for. And not being able to support parents is why we started social security in the first place.
- dharmab 3y ago
  The US Social Security surplus will be depleted in 2033 (https://www.ssa.gov/OACT/TRSUM/index.html https://www.ssa.gov/OACT/TRSUM/index.html), after which point Social Security will be paying back the same amount that people paid into it. People of my generation who are becoming parents now will receive few social security benefits over their lifetime. As the program currently exists, my generation is being robbed of money that we could invest ourselves.
  - downrightmike 3y ago
    We could just fix that
    - dharmab 3y ago
      Who is "we"? Congress would need to fix it and the current dysfunction is politically useful to certain key members.
      - pc86 3y ago
        It's useful to everyone because as soon as more than 2 people sit down to discuss fixing it everyone has their pet thing that absolutely cannot change under any circumstances. So you end up with half the room saying "you can't cut benefits 1 penny" and the other half saying "you can't raise taxes 1 penny" with 80% of people saying you can't raise the retirement age 1 day. It's a classic stalemate where whoever gives first ends up giving up most of their side. The reality is that if we're going to keep this type of ponzi scheme around through the death of all the boomers we need to raise the retirement age 5 or 10 years, cut benefits by 20-30% and raise the SS taxes by 20-30% in addition to eliminating the income cap on those taxes. But imagine trying to get something that comprehensive passed that pisses off both sides that much.
standardUser 3y ago
If my parents are healthy and earn more than me, what role do I have in taking care of them?

dharmab 3y ago

This is true if you're born in certain parts of India and then move to a big city for work.

jncfhnb 3y ago
But then they’re not moving in with parents…