baby boomers and social security?

Question

To the genX, Y, Z. How do you feel about boomers collecting SS benifits? I made a contract with my government and employer 30 plus years ago to invest a percentage of my weekly income to be set aside for my retirement. I did this in good faith and am not some hippy socialist that waited for others to take care of me. This was a long term insurance that when I was too old to work, I would have some minimal income to keep me from winding up on the streets and starving to death. I have taking enough care that I will hopefully never come to that, SS or not, but why am I begrudged the expectation that I should recieve what I have diligently invested in? I still had to make wise choices and forgo many whims and luxuries to gaurentee my own old age future. I am curious why I see so many younger people that do not think I deserve to collect my investment.

As`I said, I do not need SS and have planned for my own future. But why am I selfish to expect my contract not to be voided because my government is incompetent? I would sue anyone else that pulled that excuse on me for a debt owed or contract broken.

As`I said, I do not need SS and have planned for my own future. But why am I selfish to expect my contract not to be voided because my government is incompetent? I would sue anyone else that pulled that excuse on me for a debt owed or contract broken.

great debate. I wish I could make the govt fulfill their promises to ALL of us. My grandma survived on $800 a month until her death at 93. That was after working for 60 years. My father , a self made military, depression era doctor, worked saving lives for 50 years, collected $1200 after making maximum contributions for most of that time. I do see the injustice that my youngers will have to deal with. But I will never begrudge helping to finance the twilight years of my elders. Is it just that my boomer generation doesn't garner the same respect that I felt for my parents and grandparent generation?

great debate. I wish I could make the govt fulfill their promises to ALL of us. My grandma survived on $800 a month until her death at 93. That was after working for 60 years. My father , a self made military, depression era doctor, worked saving lives for 50 years, collected $1200 after making maximum contributions for most of that time. I do see the injustice that my youngers will have to deal with. But I will never begrudge helping to finance the twilight years of my elders. Is it just that my boomer generation doesn't garner the same respect that I felt for my parents and grandparent generation?

Answer 1

The baby boomers last screw you to society will be to drain all the money out of the social security treasury.

If it goes under, I want all the money I put into it either back......or as a tax deduction. SS is just another example of how socialist agendas lead to future disaster.

Answer 2

I think you deserve to collect; however you have to use common sense and that is what the boomers are lacking.

The reality is that there is not enough money between Medicare and welfare to take care of all the baby boomers without bankrupting the system. Therefore, your logic doesn't apply to the generations behind you.


Cuts will have to be made, despite your "agreement" with the government. There are many boomers who are wealthy enough that they don't need it - so why not put a cap on who can receive it (i.e., those who are over 65 and have annual incomes of over $100,000 per year).

Also, why can't the boomers who have medical coverage through their retirement plan depend more on their retirement medical coverage with Medicare as a secondary source of coverage (instead of primary like it is now).

Although you have spent 30 years "putting in" - so will the generations behind you. So, if the boomers bankrupt the system and those behind you get nothing - where is the justice in that.

The solution is for BOTH generations to make sacrifices.

THAT is what makes me upset about the boomers...and you put it perfectly in your question... Boomers are being very selfish in not recognizing the problem and feeling they are entitled to full benefits without making any sacrifices.

Stop your selfish attitude and recognize the reality of the situation!

Answer 3

Yes, I've learn articles in this, and while Social Security started the ordinary lifestyles expectancy of retirees was once sixty five years historic, so retirees absolutely were not intended to be on SS (because it was once at the beginning conceived) for an totally prolonged retirement. Now with the ordinary lifestyles expectancy coming near eighty, retirees are absolutely drawing SS for years. My husband's fine-grandfather lived to ninety three so was once on it for virtually 30 years! I've learn that one running individual now could be running to aid three individuals or so on Social Security, and the real unfair side is that if that running individual by no means will get to make use of Social Security himself as it is going to be long past once they retire. I suppose one noticeable answer with the older lifestyles expectancy is that the age must be raised to sixty seven or sixty eight a minimum of or the software is probably not sustainable. They might additionally positioned it off till 2010, in order that the ones sixty five or sixty six is probably not affected with out caution. Another notion might be for millionaires/trillionaires to quit receiving SS advantages after the two years that they have got got their complete advantages. After approximately two years you have got already got the SS advantages you paid in, why must those individuals acquire greater than they've paid in if they've no monetary want?

Answer 4

Oh...you've got to remember back when you got your first series of pay checks....trying to figure out who FICA was and why they were getting your hard earned money. Then time went by and you never really thought about SS and then all of a sudden...bam...you're at an age where you can draw SS and don't you just feel spunky.

I know that's what happen to me 40 some years ago. Like you I planned for my retirement sans Social Security and that will just be frosting on the cake.

Today's youth have been lied to and mislead by our leaders in Washington and have little hope of getting a job that has pension benefits. They have some serious issues to tackle and little to no help from our government with little prospect of getting SS to assist them. I don't blame the kids they have some real legitimate issues and we...our generation have failed them and continue to fail them on a daily basis.

So...yes I can understand their complaints and their issues regarding SS.

Answer 5

I don't have a problem with old, retired people getting ss I hope to get them when I retire. I have a problem with congress shaking the ss piggy bank when they want a little more lining in their pockets. If the money just went straight to retires we wouldn't have a problem. Congress just blames "baby boomers" cause they sure ain't gonna fess up to "borrowing" the money.

My grandparents keep worrying how they will keep their family land cause they keep having to pay high taxes while their ss checks get smaller. I hate watching them strugle so much and unable to help. I hope to live on that land one day myself and don't want it to be sold off because they are old and can't work to pay for it anymore.

Answer 6

You should have had the opportunity to take the money on your own and invest it on your own for your own retirement. The money you think was set aside for your retirement went right back out the door as soon as it got to Washington, as So-So Security is pay as you go. There was no money set aside for you, just someone in West Virginia keeping count of how much you're supposed to get when you stop working (they would have been in Washington, but since Robert Byrd has succeeded in moving most of the government to West Virginia...).

The fault lies not with those who were forced to contribute to the program, but those who set it up in 1937 and those who continue to foster the idea that this program works and is not a Ponzi scheme.

Answer 7

I think it's because they don't see the 30 + years. They see "he's getting his, and we're not getting ours."

I've paid into it for 20 years. It better be there for me. I also earned a military retirement.

Answer 8

you voted for a bunch of crooks who knowingly promised more than the system can deliver without imposing taxes on the next generations, that's how.

you were bought. sold your vote for the promise to take money from someone else and give it to you.

that you used government to it does not make it ethically right, does it?


a 33% reduction in "benefits" is in order.