>will screw the next generations financially
Haven’t those elderly already been paying SS all of their lives?
Most people, probably 75% or more, who are collecting social security benefits have passed their break even points by years.
I believe that the present time to break-even for most retirees is aobut four years. After that, it’s a free ride paid for by the next generation.
A huge fraud perpetrated in 1983 when the so-called social security trust fund was set up so that the boomers could pre-pay their retirement, and the money was proptly spent. As a result, new retirees and their children face a double whammy. All the trillions that were spent will have to be taxed back from our grandkids, and the folks whos pockets have been picked weren’t able to save that money on their own.
The alleged bargain of 1983 was that the Government would save the money for the boomers, but it lied, and spent the money instead.
Everyone has been swindled. We’re all victims.
But never ever allow yourself to think that the the benefits that seniors are drawing now were fully paid by them through their payroll deductionas and employer contributions. That’s just not the case.