Posted on 11/21/2013 12:31:21 PM PST by posterchild
Grandma’s gettin’ greedy — or so some people might say.
New data published by the Congressional Budget Office show elderly households receive far more in government benefits than they pay in taxes, while all other households pay more in taxes than they get back. The data are from 2006, the most recent year the necessary numbers were available. The general findings aren't surprising, since people stop working and paying payroll taxes when they retire, and Social Security and Medicare are chiefly meant to benefit the elderly in the first place.
But the benefit gap between elderly and non-elderly households may seem lopsided to some. The popularity of programs such as Medicare and Social Security shows the U.S. has met the goal, originating in the 1930s, of building a robust safety net for seniors and others unable to fully support themselves. But demographics have changed dramatically since those big entitlements went into effect, with fewer young people now financing the benefits received by many more older people. Many feel the imbalance amounts to generational theft, as a disproportionate and growing share of national wealth goes to supporting the lifestyles of the elderly rather than cultivating future generations.
(Excerpt) Read more at finance.yahoo.com ...
Here it comes...
I have bee saying it for 20 years- there is going to come a day when the young people are going to become VERY PO’d when they find out how much of their money was voted away from them years before they even started working
Remind me again how all Ponzi schemes must end?
The system is screwed up, but weren’t these seniors ALL coerced into paying in for 5 decades, too.
Yeah, I’ve paid in over 43 years and now I’m a coupla years from collecting and this crap comes along. How about Congress critters got greedy? They spent everything and saved nothing. They bought votes with entitlement funds. They used my taxes to defraud me of my lawful due benefits.
CLASS WARFARE
Oldest trick in the book...
Get your populace fighting amongst themselves, and then they won’t be paying attention to you robbing them blind.
When you look at all the government spending, is it granny who is really taking the lion’s share of the youth’s taxes?
Anyone heard of welfare? Hmmmmmmmmmmmmmmmmm?
There’s over 100 welfare programs folks. Some of those folks have hardly worked a day in their lives.
If someone is getting Social Security and Medicare, they at least had to contribute to the system. Of course, that’s if you’re a citizen. Newcomers, no need for them to be penalized! /s
GIT OF YOUR BACKSIDE AND WORK!
Exactly! I paid in over 40 years. I never complained about older people taking my money.
When it comes to higher level education, they’re complaining about that too.
When most folks went to college, it was very expensive. Inflation makes it look like more today, but people have come away from college with big bills for a long long time.
What we have today is a crowd of folks who want instant gratification. They’ve earned their first paycheck now, and all off a sudden it’s welcome to our life.
We paid our obligations. Now it’s time for the next generation to do it.
Get out there and do it.
the children and young people of this country are so screwed because the elderly and near elderly have taken so much of the assests...
I've read so many obits lately that featured a 90 yr old who did 20 yrs in the military....meaning that he probably has been drawing a military pension and health benefits for 50 yrs or more...50 years!
now think of all the elderly who never worked at all...those who retired early....getting medicare and SS all these years....we're talking millions getting SS and medicare for 20 plus years...getting every single penny back plus much, much more...
look at your paycheck...look how much is going just to support medicare....
WHO THE HECK IS SUPPORTING YOU?
I'm getting there myself...just turned 60...I see the inequities in our system and it stinks...maybe its because a have adult children and two grandchildren....I hate it because of them and what I fear for their future...
The Baby Boomers and the not so Affordable Care Act (why we need those Soylent Green Death Panels)
Monday, November 04, 2013 8:22:44 AM · 11 of 20
spudville to nascarnation
My prediction is a slow leftist attitude adjustment by means of increasing monetary burden on the young until they are clamoring for older Americans to be put to death. Not just allowed to pass on but actively putting them away. Look for the government to start dropping hints, Hollywood to start adding it to more entertainment venues as a logical solution and perhaps even video games of extermination of the elderly with rewards of sex, or possessions of the elderly. May I be wrong. But I’ve correctly called it for about 30 years now.
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Greenspan said he could guarantee future payments of any amount. What they would be worth, I think was left unsaid. You may be lawfully due benefits, but at some they probably won’t be worth the time and energy to collect.
I’ve been paying in to the system for 34 years, and I’m pretty certain with the way things are going I’m going to work until I die. You might want to consider making peace with that eventuality.
I don't believe that one group of people...elderly...should have all the advantages...
In other news, retired people take far more per month from their retirement account than they put in when they were young.
That’s why they put it in when they were young. It’s why they paid all that money into things like SS too.
Demographics my arse. The SS was devised for younger American workers to support retired workers [their parents} in turn. It used to be some 10 Americans working to support each retiree. There are still at least 10 but 7 are in exported jobs to foreign countries. They nor their employer pay into the SS system. You want to restore the original balance then put a SS tariff tax on all imports.
Yes the young also get assistance because how many of them could afford to take in their broke parents and provide lodging and health care?
Politicians of both parties push for 'free trade'. Free for who? Certainly not the young.
When I was 23, I started an investment account. I put as much as was possible into it plus what was required into Social Security and Medicare. Today, we are living off a couple pensions and our investment account. Medicare is about all that has been available plus an Avantage plan.
I’m hardly feeling guilty about my finances. Of course, being a white Hispanic born and raised in the mining camps, I’ve received all sorts of “white privilege” and I’m sure Oprah is anxious for my death so my bigotry, won’t offend her president.
It looks like I will die in the harness too. But I have question, shouldn't I STOP worrying about retirement and spend a live a little if I am going to go in with my boots on?
If you’re willing only to take back the amount of money you put in, then the system might be sustainable and/or fair. Otherwise, it’s not. It’s a redistribution scheme and a Ponzi scheme. It’s unsustainable economically. The numbers don’t add up. It’s a pipe dream like every other leftist utopian dream of getting a free lunch.
The problem remains...the moochers...and Obama has just made it worse.
Wouldn’t be surprised.
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