"However, the true beneficiaries were the seniors that recieved benefits without paying into the system..."
Any person that receives a SS check is a beneficiary of a welfare system. Try to deny it with the above justification if it makes you feel any better. It is nothing more than income redistribution of earnings to buy votes. Why do you think the biggest welfare demographic in our country is also the most active politically?
Every generation is robbed from to pay the generation prior to them. It is nothing new now. The generation now that is blocking change at the expense of the later generations is doing nothing but saying, "hey we got robbed, so you should be robbed even more!" The fact that they will not be effected by the proposed changes and they still want to make sure we get robbed, speaks volumes.
The more welfare someone recieves, the more interest they have in ensuring their agenda is continually moving forward.
I am not advocating to back this system, don't get me wrong. The government propped up the elderly following the Great Depression by starting this "welfare", and avoided the mass exodus of the starving elderly. We do not need this system at all, and I would back a completely privitized system as suggeted in the CATO plan.
http:www.socialsecurity.com/catoplan/
Exactly. It is not a retirement program, it is a welfare program. No one pays into anything.