No… they are playing the hand they dealt themselves… they were the dominant voting block from 1978-2018… they’ve known about the problem for decades and raised retirement age on every generation but their own…
Since December 2024, the average American household is paying:
$222 more for electricity.
$758 more for gas.
$211 more for groceries.
$929 more for health care.
$256 more on rent.
$852 more for child care.
$4,330 more for their mortgage.
Trump's economy.
CAN SOMEONE WALK ME THROUGH HOW THIS MAKES SENSE
By the time I retire at 67, I'll have paid roughly $540,000 into Social Security between my contributions and my employer's match.
If that same money had just sat in an index fund averaging 7%, it would be worth about $2.4M. The dividends alone off that would be $168,000 a year.
Instead, the government is projecting I'll get $2,950 a month at 67. That's about $35,400 a year.
Someone explain the gap between those two numbers, because I genuinely don't understand where the rest of it goes.
Social democrats created social security. Come up with a way to get us out of it. How we transition to private accounts all while protecting the promises made to those who paid into it.
Social security is literally just welfare for old people. Nobody in their right mind would say they are entitled to and deserve welfare. So it blows my mind that boomers can say this about social security with a straight face. It's not a right, its a privilege. Anything that requires money from other people is not a right.
This is the same generation that warned us about socialism, but then suddenly has no issues with socialism at all when it benefits them. I actually don't want my money going to boomers who hate me and brown clown immigrants who also hate me. For some reason, it seems to be a radical position to not want my money to be stolen and given to people who do nothing with it.
There were cause to fix it way back in the late 90s and CATO let the charge but they were shot down by Democrats who love to control everything and their excuse was that if you put it into private accounts, people were not smart enough to invest wisely, and they would lose all $$
Think people. The boomers didn’t fuck up, the govt did by investing poorly. If they had just invested in a S&P index fund (like most of us do in our IRA/401k) social security would have an excess $30 - $40 trillion dollars! We would be lowering the age of full retirement and increasing payout. FIX IT NOW!
Personally, I think people like you lack and understanding of history and how and why Social Security is set up the way it is. It was created out of thin air and had to immediately help the elderly. Thus the pyramid scheme of the bottom supporting the top/elderly.
Boomers are swarming this platform with the "I worked hard my whole life and paid into the system" routine, and insisting they're not asking for anything from anyone, somehow not knowing that isn't how SS works, and that they're selfishly demanding several times what they paid
I am 51. I am perfectly ok with being cut off from Social Security and never receiving a dime of benefits, as long as not another cent is taken from my paycheck for it. I will take my 6.2% and invest it however I want.
And I paid for my parents and grandparents. It's a lame system, nothing but a pyramid scheme. CATO had a plan to privatize it 25 years ago but Democrats cried foul. The blame is squarely on them.
Boomers Let's see the math.
Social Security assets: $2.6 trillion.
Yearly payouts: $1.7 trillion.
Stop taxing the young to pay the Boomers?
Broke in 18 months.
And that $2.6 trillion isn't cash.
It's Treasury IOUs. The government owes itself.
Your grandkids are the actual fund.
For many Americans, an extra hour of daylight means more time to play outside with their kids, walk their dog, or spend time with neighbors.
Americans work hard, and they deserve more free time to enjoy all the outdoors has to offer. It’s time to pass my Sunshine Protection Act they can enjoy every ounce of sunshine!
The poorest billionaire in California will make about $300 million this year.
If we pass the CA wealth tax, he will only make $235 million. In exchange, millions of the poorest Californians will get health insurance.
That's the tradeoff billionaires are not willing to make.
Usually I agree with you and I’m a staunch Republican but if you take away my Social Security I’m a Democrat for the first time in my life. I spent my entire life planning for retirement with Social Security a major part of it and paid into the systems as a young person so that the older generation could have some support
I’ll make a deal with you, pay me back every penny I put into it and every penny my employers put into it on my behalf at 5% interest and you can take away the monthly checks.
@MattWalshBlog Well, Social Security is a pyramid scheme and in a pyramid scheme those not at the top shoulder the burden. The wise choice would've been to transition to a privatized system 25 years ago - Democrats blocked it.
@theficouple I do. Only 6 years left on the mortgage. It's all about making good financial decisions plus a little luck. But nobody has a gun to their head to pickup a 6 or 7 percent 30 year mortgage.