Babyboomers chose not to save for retirement. They spent their money on themselves. They have the good jobs. They will bankrupt Social Security. They are the most selfish generation.
2006-07-08 02:00:01 · 8 answers · asked by craigxer 1 in Business & Finance ➔ Personal Finance
No. Social Security is a scam.
2006-07-08 02:04:14 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Because the money babyboomers paid into Social Security was paid out to the generation before them. That's the way the system was set up. Unfortunately, no one looked at the consequences of having millions of boomers on SS while only a relative handful of 'babybusters' or Gen-Xers were paying in.
Boomers didn't feel it was necessary to save for retirement because they were TOLD that their Social Secutiry and pension would be all they'd ever need. By the time they found out the truth, it was too late to save.
And if you ask me, not taking care of your elders (who raised you and provided for you) is more selfish than expecting something out of the system you put literally hundreds of thousands of dollars into.
Edit: Oh, yeah, and Congress isn't helping by raiding SS to pay for their pet projects instead of balancing the budget and paying off the national debt (which is in the trillions of dollars).
2006-07-08 05:36:41 · answer #2 · answered by homeschoolmom 5 · 0⤊ 0⤋
as opposed to having millions of old broke people scattered like bums on the street?? id rather know that some of the money i give the government gets some good use..
2006-07-08 02:05:37 · answer #3 · answered by Dayof Defeat Killa 2 · 0⤊ 0⤋
So you won't be like them, and when U are old the young will want to take care of you because you were so generous and caring yourself
2006-07-08 02:05:52 · answer #4 · answered by fuhreezing 3 · 0⤊ 0⤋
Baby boomers will only get what they paid in...same as did my mom and dad got paid.
Be mad with congress which keeps spending the money you are now contributing, not us.:)
2006-07-08 02:08:57 · answer #5 · answered by Rada S 5 · 0⤊ 0⤋
Because we would not be here if not for them and one day we will be in charge. That alone should scare them to death, might help make some changes if we brought it to their attention.
2006-07-08 02:05:16 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Because they said so. Watch your mouth and don't talk back. Why, when I was your age...
2006-07-08 02:03:10 · answer #7 · answered by The Nerd 4 · 1⤊ 0⤋
Hell YES, we spent our youth wiping your asses and spoon feeding you.
2006-07-08 02:05:06 · answer #8 · answered by mikewdls 1 · 0⤊ 0⤋