The growing number of seniors is a major economic challenge
We all owe old people and they should get what they want
I'm over 65 and I paid my dues, now its my right to collect
Most old people suck
We should respect our elders and they are the wisest
Social security should be changed to be on a needs basis
The legal retirement age for government benefits should be raised
Old people are better people, it's young people who suck
They're right, we need lots more restrictions and laws
Old people made the most wonderful country in the world
Most Americans get back more money than they paid into SS AND few if any investments do more than keep pace with inflation, and heaven help you if another market crash happens once you retire. The long term stock market trends are meaningless if the bottom falls out on you.
The problem CAN be solved once everyone quits demanding it be ended so more money gets dumped into very rich and looking to get richer fund manager's hands. The short sighted view is to see Baby Boomers as the forever trend and not something temporary.
What 'monster'??? You just seem to be rolling out vague opinion. Fact is there is no real sound investment for the middle class that is as stable or dependable as Social Security- it isn't a wealth generator, it is a social safeguard. The stock market and housing market is not stable or a social safety net.
Fact is your financial future isn't hindered by Social Security and to make any real wealth you need to invest far more, and should be able to- unless the employment market collapses, you have kids, they get sick.... yanno what we tend to call LIFE happens....
My financial future is hindered by SS because if socialist leaning liberals get the better of the argument then extraordinary measures will have to be taken at my financial expense to help pay for the boomer generation. I really don't expect this 'benefit' to go away because it will be political suicide to try it. I hope it is gutted vice robbing my generation to pay for the necessary funds to keep it running in its current state.
Until you qualify your statements about SS being a better investment than stocks (what a load of BS, what you really mean is 'SS is a better investment than stocks if you don't want to save for retirement yourself), all I hear is "blah blah blah, opinion, blah blah, emotional talking points."
What we should do is make participation in this program voluntary starting at the age of 30ish. That way, socialist leaning liberals can have 8-10 years of robbing from the young, and then that person can decide whether they want the ponzi scheme to continue hoping it will benefit the at some point, or get out and keep that money to save and invest themselves. (You're probably shuddering with anger at the thought someone might choose personal financial accountability over 'shared sacrifice.')
I blame the persons responsible for starting the social security system the way that is was not the people who had no choice but to be involved in the system.
I point out if you are retired, depending on stocks for your income the crash would have wiped you out.
I point out there is a cap on how much payroll can be taxed in SS, and SS is solvent and fixable, no matter the whine some right wingers try and sell us.
I point out inflation eats up most of the average stock market gain, and the average mortgage is paying triple for the home, a one-off situation where a very few can buy extremely low doesn't make a very universal retirement plan.
I point out the Baby Boomers is a very rare and unique part of our history not likely to be repeated so the 'crisis' is a temporary one at best.
Social Security isn't for wealth generation, it is a social safety net, some income during retirement. I don't use emotional talking points, you seem to be the one getting into a lather. As far as shared vs every man for himself. One the one hand we have CONs decrying 'separatism' in a Coke ad but then demanding it in the social safety net...
NO ONE is stopping you from investing a similar amount as the Social security payroll tax in 'investments'. However adjusting for inflation most investment vehicles are not going to secure the same pay out as Social Security.
Just an FYI, if you do the math on retirement payments through Social Security most of us who are working toward a comfortable retirement see the fund as half our retirement income, and that's AT BEST. So rest easy, you are not paying for any luxury condos in Boca....