Indeed. It’s shameful that our SS system, etc remains in place the way it is. My generation is going to be paying for it for a long time with little to nothing in return. I’d be happy if just 2 (+2% emp match) % went to a privatized system.
It’s shameful that our SS system, etc remains in place the way it is. My generation is going to be paying for it for a long time with little to nothing in return.
I think it's pathetic how people of my generation and older have listened to the Siren song of "safe investment" of payroll taxes in government bonds.It sounds wonderful from a selfish POV. But since Government Bonds are a liability to the Treasury, those "investments" are mere records of past government profligacy. They can be of no actual help to the younger generations upon whom we count to keep our Social Security checks from fueling inflation.
The fact that Congress has successfully sold that scam for votes for the past three generations is a disgrace to the very idea of a democratic republic. A year or two ago GWB complained of Congress' refusal to consider "privatizing Social Security" - which alone can possibly ameliorate the burden on future taxpayers - and all Democratic Congressmen and senators stood up and cheered. I at least hope that when the reality of the uselessness of the Government Bonds in the SSTF sets in that the Republican Party uses that scene in an effective commercial. Cold comfort tho it will by then be . . .