re: Social Security and Medicare need to be eliminated

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Fine, eliminate it, but there better be a pay out for what I have put in

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And what my employer put in it for me

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Having said that SS does need to be phased out

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That would be glorious.
Won't happen. But it would be great!

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I am tired of these boomers

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Your problem isn't with boomers. Your problem is with your teachers and anybody else you want to hold accountable for being retarded.

The WSJ piece leading fact is:

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As of the third quarter of last year, people 70 and over controlled roughly 39% of all equities and mutual funds owned by households, compared with 22% in 2007, according to Federal Reserve data. Their share of net worth—assets minus debts—was 32%, up from 20% two decades earlier.

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This is laid out to support the argument that older people are more and more rich, which implies others are less and less so. Now comes the "you are retarded" part, and it relates to your inability to think critically.

When I read that argument, my first thought was, "okay, but how many more 70+ year olds are there in 2025 versus 2007, given the boomer cohort and how it's passing through the country's demographic profile?"

Turns out that in 2007, there were about 16.5 million Americans 70+. In 2025, that number is about 35 million. As a percentage of the American population, 70+ has about doubled.

So why is it a surprise that the (net) wealth held by 70+ has gone from 22% to 34%? In fact, don't those numbers suggest that the "new" 70+ year olds are less wealthy (relative to others) than the 70+ year olds twenty years ago?

These "boomers are bad" threads serve as a reminder of how economically illiterate (and soft) all those whining about them are. It's actually pretty sad.

Two things can be true at once. People who paid their whole lives into SS don’t deserve to then get ripped off by getting nothing, which is precisely what is going to happen to younger people if nothing is done about SS. People deserve what they rightfully contributed to but SS and healthcare are absolutely bankrupting the country at the same time.

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how are retired people supposed to afford medical care?


Have you tried cutting back on the avocado toast?

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Now that's was a good one

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People deserve what they rightfully contributed to but SS and healthcare is absolutely bankrupting the country at the same time.

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Thanks to the ACA.

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That’s a small share of the pie. Programs like SNAP and WIC are pennies compared to Medicare and Social Security

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Good, so it should be easy to cut those pennies first.

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Because almost 3% of every paycheck throughout a worker's career aggregate to pay for Part A (Hospital Insurance). Those who didn't contribute, pay up to $505/month. Meanwhile, for Part B (Medical Insurance), monthly premiums run $185-$625.

Medicaid recipients don't pay those premiums.

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Why do people on here find that so difficult to understand?

Boomers have put an enormous amount of economic pressure on later generations. Someone has to sacrifice and it should be the Boomers, younger generations have paid a lot to support them. Will they step up to the plate?

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Fine, eliminate it, but there better be a pay out for what I have put in

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Nope.


Any other solution, even ending it, which I would support, will just cause younger generations further economic strain.

But yeah, we should probably shoulder the burden and be done with Boomer influence for good. It's the right thing to do - which typically escapes Boomers.

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Remember, you boomers had everything handed to you and you pissed it all away

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The single most unforgivable thing a boomer has done is hatched and raised your stupid privilidged arse...