“Instead, it is a payment to the generation of folks that are currently drawing payments.....”
Well said. My dad calls me every month to thank me for his social security check (he recently found out how much I put into SS each month and was flabbergasted).
The one thing I have a hard time with, though, is those that don’t have to put anything into Social Security (because they ostensibly won’t get any when they get to retirement age). I have a cousin who’s a teacher, and I recently found out he doesn’t have to pay a penny towards SS.
I figure we have about an equal chance of ever seeing a dime of social security (him because he’s never paid in, and me because I’m young enough that I realize there’s no way I can count on getting any of my contributions back).
So I’m paying hundreds of dollars a month to carry those folks who are currently on social security and my cousin isn’t (he gets those hundreds of dollars to spend or invest as he sees fit). If I dwell on how unfair that is, I get sick to my stomach. So I’ll stop now...