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Old 03-05-2011, 01:14 PM
 
15,871 posts, read 9,581,714 times
Reputation: 14448

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Quote:
Originally Posted by pommysmommy View Post
There is no money. Paying into social security was never a guarantee that you would receive a check. If there was an income guarantee there is no way that Bill Clinton would have allocated that money to other things.
I'm not sure why everyone is shocked by all this. I entered the adult workforce in 1980, and have know my whole life that SS won't be there for me. Why did nobody else get that memo?
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Old 03-05-2011, 03:44 PM
 
Location: Austin
4,101 posts, read 7,466,702 times
Reputation: 2126
Quote:
Originally Posted by bigskydude View Post
As for the Xer's, and Yer's? .. heh .. they might actually have to innovate and/or learn critical thinking on the fly in order to survive ..
Yeah, it's not like the boomers who could drop out of high school, get a lifelong factory or garbageman job and buy a house in any major city in the US. Now you can have a PhD and no guarantee that you won't have to live with your parents.
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Old 03-05-2011, 04:03 PM
 
9,880 posts, read 9,215,728 times
Reputation: 2879
Quote:
Originally Posted by brattpowered View Post
Yeah, it's not like the boomers who could drop out of high school, get a lifelong factory or garbageman job and buy a house in any major city in the US. Now you can have a PhD and no guarantee that you won't have to live with your parents.
That is just tragic but true.
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Old 03-07-2011, 12:34 AM
 
Location: Milford, DE
6 posts, read 8,377 times
Reputation: 11
I'm a generation Y'er and for all of those who think that my generation does nothing but sit on their butts and live at home with their parents is hugely mistaken. All the people I know that are gen Y'ers have jobs or are currently in school. I have found that there are far more generation X'ers that are on drugs, live at home with their parents, and suck off of society. As a generation Y'er I have worked since I was 14. I have never asked nor expected anyone to "give" me anything. I feel that another huge sacrifice society and hard working AMERICANS are paying for are these (not all but some) boomers who were given everything as they went to woodstock etc. and burnt their brain cells and are now going into nursing homes cause they never got out of that "hippie" stage and can no longer do for themselves, so us hard working AMERICANS are paying for you
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Old 03-07-2011, 01:00 AM
 
11,531 posts, read 8,981,791 times
Reputation: 3580
Quote:
Originally Posted by pommysmommy View Post
Bad news for Gen Xers and Gen Yers who expect entitlements.
Good news for Republicans as they despise entitlements.
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Old 03-07-2011, 07:23 AM
 
20,336 posts, read 12,842,728 times
Reputation: 11534
Quote:
Originally Posted by pommysmommy View Post
There is no money. Paying into social security was never a guarantee that you would receive a check. If there was an income guarantee there is no way that Bill Clinton would have allocated that money to other things.

Correct-

We only have to look at Wisconsin to get a pre-view of all the hell raising that will go on when everyone realizes they have been "had" by a giant Ponzi scheme and will get next to nothing in benefits. Isn't liberalism a wonderful thing?
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Old 03-07-2011, 10:12 AM
 
Location: East Lansing, MI
11,425 posts, read 8,568,640 times
Reputation: 4635
Quote:
Originally Posted by bigskydude View Post
Yes .. They might actually have to get off of their dead asses and go out and "find a job"
I've got a job. Thanks for the sweeping generalization, though.
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Old 03-16-2011, 09:31 AM
 
Location: Kentucky
470 posts, read 949,125 times
Reputation: 278
I vote for Baby Boomer euthanasia. That would save a lot of money wouldn't it? Social Security problem solved. And if any of you Boomers feel entitled to Social Security money let me go ahead and remind you of the things you've already received:

An Economy at its Pinnacle Paid for by the Blood of Your Parents in WWII

All that Money You Already Received from Refinancing your $50 K home for $200 K, and then $250 K, and then $300 K and then.......I mean home values in America always go up right?

Lets not forget your failure to follow in your parents foot steps. I guess service and duty to your country wasn't for you?

What about all that money you saved by outsourcing jobs overseas.......yeah that was a practice started by Baby Boomers.

Oh yeah, back to duty to country. Even though it wasn't good for you, your freedom is currently paid for by the blood of your children who fight a determined enemy on two fronts. Those children who you say need to get off their butts, get a job, and stop being so entitled.
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Old 03-16-2011, 07:50 PM
 
Location: San Jose, CA
1,318 posts, read 3,134,562 times
Reputation: 760
Quote:
Originally Posted by brattpowered View Post
Yeah, it's not like the boomers who could drop out of high school, get a lifelong factory or garbageman job and buy a house in any major city in the US. Now you can have a PhD and no guarantee that you won't have to live with your parents.
Isn't that the truth, I'm pretty lucky in that I managed to get to a top 5 school in my field for both grad school and undergrad. So now after the housing bust I finally have an income good enough to buy a starter condo in my community. My parents keep mentioning about how come I don't spend more money. My job may pay well, but I don't have a pension, I have to put money in a 401k 11%, and in order to save up for this condo I have to put another 11% toward that. The world is not the same as when they were growing up, if you want a well paying job you will probably be somewhere where intro condos cost $200-$400K houses $400K-1M. Or you move somewhere more affordable and deal with a career path that is not that lucrative. You can't get a well paying job right out of high school at 18, that has a pension and full benefits anymore, jobs for high school graduates do not have benefits, and pay a lot less in real terms than they did in the 1970s. Good jobs will not pay enough to buy a house with one income, that is just not the way the housing market is these days. Most of us have thousands of dollars in debt from student loans, usually twice as much if we got a MS. A hell of a lot more if we went to get a MBA or JD or to med school. It takes years to pay off those loans.

Sorry but this is not 30-40 years ago, I don't care if our parents were married by the time they were 23. I don't care if they bought their first house when they were 25. That is not doable in today's economy, one needs to establish themselves first, pay off their student debts, build up their 401k, and build up a downpayment for their first place, which most likely will not be a house. This is the way the world works now.

The boomers will probably be 80%+ dead by 2037, the oldest would be 91 by then if they are alive, the youngest 75. Life Expectancy in the US is not that high that most would be alive by then. Over their lifetime they would have paid less into SS than the generations after them. The tax first became 6.2% in 1990, just around the time Gen X was entering the work force. Both Gen X and Gen Y will have paid significantly more to SS as a percentage of their paycheck. In 2037 when the trust fund runs out of money the tax will be able to cover 70% of SS benefits. Gen Y which will reach retirement at the earliest in 2049 will only get the 70% benefits.

So to sum it up Baby Boomers will get about 95% of the expected benefits and have paid only about 90% of what Gen Y paid for SS taxes. While Gen Y will have paid 10% more taxes for 25% less benefits. Either way Medicare will become a big issue long before any of this.
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Old 03-16-2011, 08:06 PM
 
639 posts, read 1,139,165 times
Reputation: 626
Im a Gen Y and I don't expect to receive a penny that I put into the system. My goals are to just make enough money to be completely self sufficient and live off my personal savings when I retire till I die. This is all assuming hyper-inflation or China or the Middle East just decides to cut us off our kick or broke ass randomly. I'm not very confident our society will even be considered a 1st world civilization by the time I'm a grandfather. Either way Ive got my guns and survival techniques, till apocalypse comes I will keep working hard, when it does come if it does stay out of my way cause I'm strapped and shooting anything that moves.

It's the baby boomers fault, they f***ed everything up so bad in this country. heroin, crack, broken families, hippies, bailouts, economic collapse, massive debt, these are the things that the baby boomers gave America and the next generation.

Worst generation in the past 100 years.

Last edited by Observation; 03-16-2011 at 08:16 PM..
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