Posted on 07/20/2010 1:04:34 PM PDT by Andrea19
...But however much Social Security must be subsidized by the Federal government, lawmakers would never allow those promises to lapse for reasons of expediency. What is much more likely to occur is a general reduction of benefits over time such that Social Security pays for itself with small subsidies.
Of course, this strips away the entire point of Social Security: the reason to invest throughout life is so that the balances grow and compound over time rather than simply stuffing the money in a mattress. As Social Security simply becomes a transfer payment from the young to the old, benefit levels will drop correspondingly as the money has no chance to grow.
Todays young adults will indeed one day receive checks from Social Security, but when those checks come, the recipients will only be able to laugh at the pitiably small amounts. The Social Security of today will be the latte-subsidy of tomorrow.
(Excerpt) Read more at americanshareholders.org ...
The older you are, the better the chance it's a good deal. Female, better the chance it's a good deal. Later in life you enter the system, the better the chance it's a good deal.
Yet, that's today. As time goes on it becomes less of a 'deal,' and an actual drag.
As you pointed out, today's young adults will not experience the SS system you do. But, they will pay for it.
They are getting ripped off, and they ought to be very angry about it.
It is the CLASSIC DEFINITION of a pyramid scheme. The numbers do not add up, they never have, and they never will.
But those who benefitted the most, the politicians responsible and the greatest beneficiaries, will have been long gone when the facts loom too large to be ignored.
I was recently ran for congress and routinely asked this question and couldn’t find anybody under 40 that thought they’d collect SS.
It’s a twist on the phrase “who is John Galt?” from Atlas Shrugs
Basically it means I have stopped producing to reduce the amount the Marxist have to redistribute
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