He's in the richest cohort.
The richest cohort in America by age, Baby Boomers, holds a staggering $83.3 trillion in aggregate net worth, controlling over half of all U.S. household wealth.
Approximately 40% to 45% of Baby Boomer households have incomes that exceed the overall U.S. median household income. Their wealth generates income sufficient to place them above the national median for household income. They don't need welfare, certainly not welfare paid for by borrowing on the backs of subsequent, poorer, generations.
If these richest boomers were not distributed social security checks the system would be solvent for the next century.
Yes! We need to tax the rich! They don't deserve it!
“If these richest boomers were not distributed social security checks the system would be solvent for the next century.”
These ‘rich’ boomers have kept the system afloat. All the money I had withheld resulted in earning only about 1% based on my monthly check. And I am being taxed on 85% of it.
And those withholding were not tax deductible.
“They don’t need welfare, certainly not welfare paid for by borrowing on the backs of subsequent, poorer, generations.”
It is not welfare. It is a return on withholding. That return is skewed against higher earners subsidizing lower earners benefits.
Wealth redistribution.
“If these richest boomers were not distributed social security checks ... “
Tho withholding from those rich boomers has been propping up the system.
Do you really think that the government just confiscate their withholdings?