We forty somethings(and under) are going to have to pay for the boomers and those before who will have put in less than they took out.
As a boomer who has maxed out payments into SS for 30 plus years I won’t recover what I put in if you also figure the interest I would have earned on those dollars at just 5%. You also have to consider my employers has matched my contribution over the same period.
No I won’t be seeing everything I put in.
The generation before us did take more than they ever contributed.
Don’t worry... The aliens in their UFO’s will save you:
“a much-publicized poll suggested that more members of Generation X believed they would see a UFO than believed that Social Security would help them when they retired.”
BINGO...
You are correct.
If the amount you paid in (plus the employer’s portion) over the last 30 odd years had been invested and not pi$$ed away by the crooked politicians, your account would be worth millions now.
Your money and everyone else’s money was stolen.