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+--- Thread: Who's going to pay for the Baby Boomer's Social Security if young people can't? (/thread-124665.html)
Who's going to pay for the Baby Boomer's Social Security if young people can't? - David von Rudisill - 04-04-2014 08:43 AM
find decent-paying jobs?
- cabaretic - 04-04-2014 08:50 AM
That is indeed the question.
- Spanky - 04-04-2014 09:01 AM
We already paid for it, so don't worry about us - we also built the roads you travel on to school as well as the schools and hospitals - turn off the talk radio and open your eyes…
- 357 - 04-04-2014 09:09 AM
We pay for our own, Us baby boomers put money into the SS system all our lives by working, so it belongs to us and no one else.
Just remember the government stole from those SS funds and need to pay it back so don't blame the SENIORS for it!
- Lynn - 04-04-2014 09:15 AM
Young people really don't contribute nearly the same amounts as well-established middle-aged people. And young people will be well-established middle-aged people by the time those middle-aged people retire, so the cycle continues fine.
Add to that, it's not like the government is making a quick last ditch effort to fill an empty pot. The pot perpetually loses some money and gains some money. It's never been stationary.
The only real problem is that no politician wants to up the retirement age, but it was first set up to give people who didn't plan on their retirement money IF they surpass the average life expectancy. Originally, when SSI was set up, it was for women who lost their husbands and had always raised their kids, instead of working for a wage. When it was set, the average life expectancy was 58 for men and 62 for women, while SSI was only available for people who lived to 65. Meanwhile, life expectancy has risen greatly, but politicians have only had the guts to up the retirement age to 66. It's too top heavy that way, so it can't continue to be sustained at that rate.
Sadly, if politicians would get the guts to do the right thing and change the retirement age to 75, it would certainly help middle-aged people to get new jobs. The reason bosses use for not hiring people in their 50s and 60s is because they won't be working that much longer. (It is merely an excuse, since the average American has 7 jobs in their working lives, but it would certainly make business and people rethink the idea of spending decades of their lives retired.)
As for young people not being able to get jobs? That lacks any substance to the point of being an urban myth. They used that in every recession since I graduated college, including the recession I graduated during. (Six recessions since the mid 70s.) Just because young people can't get their dream jobs for their first job, it doesn't mean they'll never get a good job. Those willing to lower their standards end up doing well. Those who don't were doomed to fail because of their attitude, not because of the job market.
- S - 04-04-2014 09:17 AM
Maybe the baby boomers now are paying the young unemployment checks. Yes this is a serious matter and is a good question, not just social security either, but medical science can keep us old bones alive almost indefinitely, this and rest homes and all kinds of stuff. Kids get a good education with a degree and graduate with loans up to their neck and can't find a job, they are also told they are over qualified, need experience, or nothing in their field. Our prisons are over filled, billions spent on useless wars, just where is all the money going to come from? I am sorry sweet heart as I don't have an answer other than hope I check out before becoming an added burden on anyone. That is my wish.
- Genegee - 04-04-2014 09:28 AM
The government should pay for it after all they are the ones who raided the trust fund, four different times, to the tune of four trillion so many billion dollars. In to days money it would be around twenty trillion dollars. And guess what it would be solvent today.
- mtldon1 - 04-04-2014 09:37 AM
The Baby Boomers paid into the system all their lives, so if the money isn't there go ask the gov't where it went. As far as getting a good job that is up to the corporations to make good jobs available, so good luck with that.
- shipwreck - 04-04-2014 09:44 AM
We will get new young people from immigration who can do decent paying jobs. The good jobs will be opening up when we retire so lets hope the young will be ready to take over. We are retiring at a steady pace now. I am retiring on Wednesday but my boss last summer and another worker the end of 2013 another will be the end of 2014. We are having trouble finding decent workers to replace us. We need a couple supervisors and have had to hire people who weren't qualified so we are having to train them. Young people all seem to want to go to college if they are smart so not filling the job pipeline for jobs like supervising ship repairs. Those are usually in the Navy for 20 years before they start so learn all of ships systems the new guys don't know anything about ships. One is the great grandson of one of the founders got a degree in something else but his dad made him come learn the job because we needed the help. He is learning on the job like his grand father and father did so if he isn't allowed to quit he will replace his father in 20 years. Too bad he wasn't allowed to follow his dream but at least he will be making good money once he learns the job.
- Bert Weidemeier - 04-04-2014 09:52 AM
They just have to markedly increase your SS tax deductions from your pay. But, the whack jobs on talk radio don't tell you the truth.