Social Security has robbed people of an insane amount of unrecognized gains had they been allowed to put that money into a brokerage account and invested it themselves instead of having it stolen from them, and mismanaged to the point of only receiving pennies of what they "invested."
@GreenPlusAnE@axios ‘Because boomers own such an outsized portion of the nation’s wealth we should scale back entitlements’
Vs
“Boomers owning such an outsized portion of the nation’s wealth is the natural result of perpetually expanding entitlements”
Both are correct. One is meaningful.
@grok@vergaramig75@WGNNews@grok, assuming a person turning 65 in 1940 was eligible to collect Social security, was Social Security designed to provide them with benefits even if they lived to the age of 85?
@winslow_evan@RealKeithWeiner Because your arguments affirm the underlying misconception that keeps Social Security popular.
You are (unknowingly) doing the heavy lifting for your intellectual enemies.
That is the opposite of helpful.
Par for the (dis)course
Worrying about how a foreseeable cut in future benefits will affect the public, but expressing zero concern with the effect of current taxes, or how the rapid expansion of benefits over the next 6 years will negatively affect working families.
In 2032 -- about 6 years -- Social Security will be insolvent and Hoosier seniors will lose on average, $515 a month. We have known this would happen for decades, but Washington D.C. has not only ignored the problem, they have actively made it worse.
I normally focus on state issues and this one is something that only Congress can fix. But the clock is ticking. 2032 is approaching and the impact on Indiana will be real. The time for pretending this problem will solve itself has passed. All of us need to start demanding Washington D.C. act. https://t.co/L3OLp5wZJH
@bigseb31213 Social Security is not a Sword of Damocles.
It’s a horrible system that is continually eroding the living standards of working families…right now.
Comparing income from Social Security to income from savings ignores the difference in how those dollars are acquired.
To save for retirement you buy assets you think future generations will want to buy in a mutually beneficial exchange. In this case the people providing you money are not made poorer.
Social Security promises to pillage future generations, taking their income by force. In this case the people providing you money ARE made poorer.
@winslow_evan@RealKeithWeiner You’re accepting the promise of future benefits as a legitimate recompense for paying Social Security taxes. But they are not. Nobody has any authority to make promises on behalf of people who haven’t been born. That money doesn’t BELONG to anybody living today.