Are babyboomers cashing out at the expense of young people?

Question

I guess some things don't stay in Vegas

Answer 1

WOW. You must be a young-un that has never put 45 years of money into a plan that is going bankrupt.

Answer 2

Absolutely not...I'm a baby boomer, worked for 44 years, retired and still working. Now do you think I am cashing out at the expense of the young people? I have children and I sure hope they don't have to work as long as I have to. If you are referring to social security, I still have 7 years before I can receive any, but when I am eligible, I do plan to get it because I have paid into long enough and feel that I should be entitled to a little bit by then.

Answer 3

How do you come to that conclusion? The baby boomers cannot fully retire until a later age than their parents, they cannot even take early retirement as soon as their parents were able to do. So, how is this hurting you? Our government has known about the demographics of S.S. for a long time, they could have fixed it years ago, but because big business didn't want to pay more into the program, nothing was done. The working man/woman would have been glad to pay more to ensure that S.S. was there for it's children but, nothing was ever done to alleviate the problem. I suggest you study a bit more about the S.S. problem, see where the money went & a few more interesting facts before you start calling foul & blaming the baby boomers for the state of S.S.!

Answer 4

cashing what out? The social security they paid into? The baby boom generation hasn't even hit social security yet, so they really aren't cashing out anything.

Its not their job to "fix" social security. How about we kick out all the illegals who are sucking it dry since the vast majority of them aren't paying a nickle into it?
They aren't taking anything they aren't entitled to. They worked for decades and many paid in much more than they will ever get out.

Answer 5

Not really, it's just that socialized anything doesn't work.

Baby boomers have paid into the social security their whole lives.

The problem is the government stepped in and started social security instead of letting people have their money to save for themselves.

As this country was founded, let people be responsible for themselves. If there was no social security, people for years would have more money to save for retirement. If they didn't save, it's their fault & their problem..... They'll have to rely on the CHARITY of others.

But they are not cashing out, it's the structure of SOCIAL security that failed (Pyramid of workers). Socialized medicine will do the EXACT same thing.

Ron Paul 08'
http://www.ronpaul2008.com

Answer 6

Us "Babyboomers" paid into it...the Stupid F***'s in Washington are using Social Security for other pork barrel projects......Next time watch who you vote for!!

Answer 7

If you are referring to their collecting their Social Security benefits, then the answer is no. One must pay into Social Security to collect benefits.

If you are referring to their retiring, then I think not also. Baby Boomers will be dragged kicking and screaming from their jobs and the economic arena.

Answer 8

Of course! The Social Security Administration was set up as a generational wealth transfer program. It is as it always has been. Perhaps you need to read a bit more about FDR's "New Deal".

Answer 9

Hang on there. We've paid into Social Security all our lives and we are counting on it to be there when we retire.

Answer 10

Yes.