4 ms·

Probably worth noting that homes are owned by old people, and the old people are in control of the government, making policy that is self serving to the grest d

Probably worth noting that homes are owned by old people, and the old people are in control of the government, making policy that is self serving to the grest detriment of younger Americans. For example social security will end in about 10-15 years, after those old people like Mitch McConnel have gone to bed. Meanwhile the youngsters are paying huge sums into the ponzi scheme, and the cost to service US debt remains an unsolved problem. There was a good Ted talk recently by Scott Galloway highlighting just how badly the youth are getting screwed. I disagree with most all of his proferred solutions but he did a great job of describing the issue.

drpossum 2y ago
A shocking number of homes are also owned by the investor class and it's getting worse.
greentxt 2y ago
Here is the talk. Every multigenerational American family should be forced to watch this and discuss the ethical implications of each peesons vote in future elections. https://m.youtube.com/watch?v=qEJ4hkpQW8E https://m.youtube.com/watch?v=qEJ4hkpQW8E
- MobileVet 2y ago
  Came here hoping someone would have already posted this...
sgerenser 2y ago
Social security isn't ending in 10-15 years, it just won't be able to pay 100% of promised benefits, only about 80%. In reality, sometime in the next 10 years there will be new legislation to fix it, which will probably result in increasing the retirement age (resulting in a small cut in benefits), higher SS taxes particularly on high earners, and other formula tweaks.
- greentxt 2y ago
  So they'll just move the goalposts, not remove them entirely? Isn't it a bit difficult to make accurate projections when the current state of things is totally unprecedented? In any case, thanks for giving me hope. Hope helps me cope. I really shouldn't doubt our political class. They always do right in the end. God bless America.
  - sgerenser 2y ago
    Yes the goalposts will be moved. But even if they don't (almost 0% chance of this), the worst case scenario is an across-the-board 20% benefit cut. Nobody was ever predicting or seriously expecting Social Security to just go away.
philwelch 2y ago
McConnell is one of the few people in elected office who has been trying—with little success—to make Social Security fiscally sustainable. Weird that you’re calling him out. The truth is that sub-replacement TFR in developed countries is going to lead to problems of varying degrees, and that the inevitable failure of old age entitlements are going to be the least of our problems.

drpossum 2y ago

A shocking number of homes are also owned by the investor class and it's getting worse.

greentxt 2y ago

Here is the talk. Every multigenerational American family should be forced to watch this and discuss the ethical implications of each peesons vote in future elections. https://m.youtube.com/watch?v=qEJ4hkpQW8E https://m.youtube.com/watch?v=qEJ4hkpQW8E

MobileVet 2y ago
Came here hoping someone would have already posted this...

sgerenser 2y ago

Social security isn't ending in 10-15 years, it just won't be able to pay 100% of promised benefits, only about 80%. In reality, sometime in the next 10 years there will be new legislation to fix it, which will probably result in increasing the retirement age (resulting in a small cut in benefits), higher SS taxes particularly on high earners, and other formula tweaks.

greentxt 2y ago
So they'll just move the goalposts, not remove them entirely? Isn't it a bit difficult to make accurate projections when the current state of things is totally unprecedented? In any case, thanks for giving me hope. Hope helps me cope. I really shouldn't doubt our political class. They always do right in the end. God bless America.
- sgerenser 2y ago
  Yes the goalposts will be moved. But even if they don't (almost 0% chance of this), the worst case scenario is an across-the-board 20% benefit cut. Nobody was ever predicting or seriously expecting Social Security to just go away.

philwelch 2y ago

McConnell is one of the few people in elected office who has been trying—with little success—to make Social Security fiscally sustainable. Weird that you’re calling him out. The truth is that sub-replacement TFR in developed countries is going to lead to problems of varying degrees, and that the inevitable failure of old age entitlements are going to be the least of our problems.