Thank you for dying

Washington Times ^ | 4/1/07 | books

[Jaysun]

My generation has to pay for your social security...except that...there are more baby boomers than there are of us. So somebody is ganna get screwed and I'm guessing it's not ganna be the baby boomers since they hold office.

The number of baby boomers shouldn't matter. Don't you see? They've paid money in for more than 40 years. That means that the problem is the SS system itself. By the way, I'm not a baby boomer. I'm one of you.

[txroadkill]

LoL, didn't mean to call you old :-)

But I'm with you, the system is screwed, but it was the Dims spending it on everything but social security. Buying commemorative plates from Time/Life would have been a better investment than paying into Social Security.

I attended a Texas Work Force meeting for one of my PoliSci classes, it where they make people go who sign up for welfare (TANIF). I was surprised because the "teacher" told them that if they planned on SS for their retirement they were out of their minds.

I was pretty shocked, I assumed it would be a leftist love fest.

The government has known since the 60's that SS was broken, they just liked the ready cash it brought in. If someone ran a business like that, we would throw them in prison.

[Jaysun]

Okay, thanks. But the next big myth behind the “baby boomer myth” is the “they spent it” myth. The truth is that it could never work. And they did arrest someone else with a similar scheme: Charles Ponzi.

[Extremely Extreme Extremist]

Here’s what should be done. Simply refund everyone whatever amount of money they have contributed into SS. The intial cost would probably be about $5 trillion dollars - but there is an immediate savings of several hundred billion dollars per year. Economic activity would surge, which would bring in more revenues and probably pay off the $5 trillion within 10 years.