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re: Social Security recipients to receive 3/4 payouts by 2035
Posted on 4/23/19 at 8:38 am to Ace Midnight
Posted on 4/23/19 at 8:38 am to Ace Midnight
quote:
Be careful with this - they'll lift the cap on wages, but enforce a cap on benefits. That's even more Marxism.
Oh, I understand that we'll always be screwed by Marxism. It just seems weird to me with all the class warfare nonsense they spew that SS contributions are seemingly never brought up.
1
Posted on 4/23/19 at 8:43 am to TheHarahanian
quote:
It just seems weird to me with all the class warfare nonsense they spew that SS contributions are seemingly never brought up.
Well, "they" (the left) tend to argue that it is regressive (the tax falls on the lower portion of the income, starting with dollar number 1 of every paycheck), but then never argue it is a bad deal.
Frankly, the benefits fall disproportionately on the working poor and lower middle class who have statistically $0 in other retirement savings, so, frankly, it's better to have SS retirement than to not have it.
But, the boomers have really gotten over on the younger generations with this one. They were putting in $80, $100 a year in the 1960s and are pulling $20k, $25k a year in their 60s and live 20 to 30 years in retirement. From Gen-X on, our ROI isn't going to even be positive, much less that lucrative.
This post was edited on 4/23/19 at 8:43 am
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