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To: Uncle Sham

Don’t take it personally that your generation is probably the most destructive on in human history. As you said, it’s not your fault that you were born into it. Talking about a generation is necessarily general in nature.

Back to the main topic: How do you propose to pay for the proposal? With taxes on people who get nothing from the arrangement? The only real place to get the kinds of money we’re talking about are from the assets of the Boomers themselves, since they stole literally more than everything.


77 posted on 01/15/2017 9:17:23 PM PST by thoughtomator (Purple: the color of sedition)
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To: thoughtomator
The only way to get rid of this mess is to share the pain and share the rewards. Current recipients are trapped but can certainly put up with not getting any increases in their payments. The cost of maintaining them declines as they die off naturally.

The biggest problem is financing the benefits for the massive amount of baby boomers. The boomers are trapped as well but can still find part-time work if we provide incentives to business such as no social security taxation if they are employed. The way to reduce their numbers is to offer a one-time cash buyout that is large enough for half of them to accept instead of receiving benefits. This would cost up-front money but would be more cost effective in the long run and lessen the burden that those who pay social security taxes would face. Facing a reduced benefit amount would also encourage many boomers to take the buyout option.

Those who haven't paid into social security have no basis to complain about losing benefits over a four year time frame. This provides time to formulate their own financial plans or for others who wish to help them do so.

The ones who would be trapped into the reduced rates with no buyout option would at least have a ten to twenty year stretch of time to build their own nest eggs that they would be in total control of. In addition, as recipients die off, their burden of social security taxation would fall.

Those folks with over twenty years to go before retirement would be able to build their own resources and would also benefit from the dying off of recipients as time goes by. At some point, thirty to forty years into the future, social security will have gone entirely away and your problem of having to finance someone else's retirement along with it. Certainly by the time your children come along, this won't be a burden of theirs.

Stop being so angry and look for a better way than what I have proposed. Social security sucks. We are all burdened with it, Let's find a way to rid ourselves of it. There is no overnight solution.

78 posted on 01/16/2017 2:02:47 PM PST by Uncle Sham
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