Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

American Youth Wrongly Expect Nothing from Social Security (Social Security Is Still a Joke)
American Shareholders ^ | 7/20/10 | Jeremy Weltmer

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.

Today’s 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 ...


TOPICS: Business/Economy; Government; Reference; Society
KEYWORDS: democrats; economy; fail; moralabsolutes
Navigation: use the links below to view more comments.
first previous 1-2021-23 last
To: DrC
Again, you are one of the fortunate; it does not hold true for everyone. The trend lines are there.

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.

21 posted on 07/21/2010 10:05:58 AM PDT by gogeo ("Every one has a right to be an idiot. He abuses the privilege!" Groucho Marx)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Andrea19

I was recently ran for congress and routinely asked this question and couldn’t find anybody under 40 that thought they’d collect SS.


22 posted on 07/21/2010 11:13:35 AM PDT by ziravan ("Are you better off now than you were 4 trillion dollars ago?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: jackspyder

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


23 posted on 07/21/2010 1:13:16 PM PDT by sten
[ Post Reply | Private Reply | To 16 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-23 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson