"My problem is all these baby boomers who didnt plan for retirement and are goin to screw my generation over by demanding we pay for theirs."
Why don't you PROVE that baby boomers "didn't plan for retirement" to a greater extent than other generations?
Baby boomers, who have paid for earlier generations' retirements all their working lives, don't whine like you do.
You forget, that you baby boomers who paid all your life paid MUCH LOWER rates. Today tax rates are high, and they will get higher. There's a big difference there. If you want proof baby boomers didn't plan for retirement, only 1/4th of people over the age of 50 have savings of 250k+, 1/3rd have nothing, the rest have a median of around 10k or so i think. That sounds like a lot of planning if you ask me.
Make no mistake, if something isn't done to solve this problem quickly there will be a massive young vs old crisis in our society. Young people just aren't going to tolerate tax rates in the 60's and 70's to bankroll people just sitting around for 30 or 40 years.
Boomers, in fact, have had to plan twice over, since we pay for social security and have increasingly to fund our own retirement through 401Ks; the pensions are not there for us which existed for our parents.
Just wait. Baby Boomers are just starting to retire.
We see certain companies scaling back pension plans.
Now we have to see some local governments do the same thing, such as San Diego. What do you think will happen if their pensions are cut.