I’m 23. Combining this news story with the imminent election of a liberal (whether it be a Republican or a Democrat) I may as well just bend over and grab my ankles.
America, I hardly knew ya.
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August for me … if I decide to collect before age 65.
yipes
Which magazine in the USA has the greatest circulation? By how much does it beat number 2? Hint: it isn’t MAD.
And so the great robbery of the Generation X begins.
Yet many in my generation are going to voting for Obama in order to keep things the same even tough he talks a good game.
Thanks Democrats (and spineless Republicans too).
Fact is, our leaders turned criminals, stole all the money.
I’m gonna have to work more overtime to be able to afford this shit.
Ping
I can’t carry all these baby boomers. The weight is too heavy now. My back is going to break soon. Will someone rescue me?
You younger folks should start a TEA party......
If I move some old people into my house, can I get Boomer Credits on next year’s taxes?
I’m in my 50’s and have paid in the max for as long as I can remember. That amount of $ over the years could have really produced in the private markets, but odds are, I’ll not see much of it because I know Gen-X isn’t going to be able to handle the burden facing them. Glad I don’t have to rely on it as many will.
Bend over and kiss your ar$e goodbye.
I have 2 nieces nearing this stage. Whether they take it at 62 is another matter but I’m sure one of them will...
How is that Jan 1, 1946 is the start date? That would suggest that the nation spent March/April 1945 in the bedroom. True?
Listen, the real culprits are not the Baby Boomers.
We paid in not only for the preceding generation’s benefits, but since 1983, we have paid in more than what was needed precisely because the BB generation was going to bust the bank.
SS was pay as you go until 1983. Then rates were raised across the board so that money would be available for us beginning in 2008 onward. That was the Reagan Commission.
The money was SUPPOSED to be set aside for SS. The government bought Treasury bonds with the excess money and then promptly spent all of it, IN ADDITION to the normal tax revenues.
SS has a file cabinet full of Treasury certificates in Galena, IL to redeem when they need the money in 2017 onward.
Trouble is, the Gen X and Y generation’s taxes will be used to redeem the bonds.
So, not only did we pay for our own SS as well as our parent’s, our sons and daughters will now also pay for our SS.
That’s right, two generations paying for the SAME BENEFIT, and Congress skates free.
Ain’t that a kick in the teeth?
And all of these damn Congresscritters, most of them have been in on this scam for 25 years, are guilty and should be in prison. That money could have been invested in the private sector and helped the economy all these years. Instead, it was wasted on earmarks and such.