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Old 02-20-2015, 10:44 PM
 
33,016 posts, read 27,455,098 times
Reputation: 9074

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Quote:
Originally Posted by InformedConsent View Post
That's pretty much the way it is. American workers and retirees have $24 trillion worth of pension/retirement assets in those profitable investments.

Retirement Question 4 | EBRI

How much do burger flippers have? e.g. bottom 20% of workers

Too bad your "link" has no click.

Did you notice the generous benefits for government retirees?


The biggest source of retirement income for Americans has been Social Security. Many older Americans (age 65 or older) rely entirely on their monthly Social Security checks.

http://www.ebri.org/publications/ben...cfm?fa=retfaq1

Last edited by freemkt; 02-20-2015 at 10:58 PM..
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Old 02-20-2015, 10:46 PM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by Greg_IA View Post
That's fine, but it isn't time for boomers to step aside and forfeit the benefits just so the program can continue for someone else who hasn't paid in.

Burger flipper boomers cannot afford to step aside and forfeit the benefits they forcibly paid into for decades.
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Old 02-20-2015, 10:48 PM
 
33,016 posts, read 27,455,098 times
Reputation: 9074
Quote:
Originally Posted by Greg_IA View Post
Burger flipper can get a better job. At least people will be buying burgers so burger flipper doesn't get laid off.

Burger flipper can't get a better job because he now is broke and can't afford training that might lead to a better job.
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Old 02-21-2015, 01:28 AM
 
Location: somewhere in the woods
16,880 posts, read 15,196,989 times
Reputation: 5240
Quote:
Originally Posted by Hoonose View Post
The 'fix' is indeed money creation.



more money creation just means that high inflation will make the money paid out worthless or near worthless.
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Old 02-21-2015, 01:31 AM
 
Location: somewhere in the woods
16,880 posts, read 15,196,989 times
Reputation: 5240
Quote:
Originally Posted by Delahanty View Post
Lol, where's that rolling around on the floor, laughing smiley?

So let me get this straight...Social Security was just another tax on workers?

Sorry, you'll have to think of another way to fund all of these illegals flooding the border.



social security was just another tax on the people. if is wasn't, then the money would have stayed in the social security trust fund and not put into the general fund by the democrats.

then the money would be at least worth something more than just pieces of paper with IOU's written on them.
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Old 02-21-2015, 02:05 AM
 
12,997 posts, read 13,643,558 times
Reputation: 11192
Quote:
Originally Posted by Greg_IA View Post
That's fine, but it isn't time for boomers to step aside and forfeit the benefits just so the program can continue for someone else who hasn't paid in.
Who is this person who hasn't paid in? I've paid in for 20 years. I'll pay in for another 25 or so before I start collecting. By the time I start collecting though, it will probably not be there, so I'll be caught holding the bag. Why is that ok? But the thought of boomers being the ones caught is ridiculous?
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Old 02-21-2015, 07:26 AM
 
Location: the very edge of the continent
89,006 posts, read 44,813,405 times
Reputation: 13707
Quote:
Originally Posted by freemkt View Post
How much do burger flippers have? e.g. bottom 20% of workers

Too bad your "link" has no click.
I have no problem with it.

Retirement Question 4 | EBRI

If you're in the bottom 20% of income earners, that's largely a result of your own bad life and financial decisions.
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Old 02-21-2015, 07:30 AM
 
Location: Just transplanted to FL from the N GA mountains
3,997 posts, read 4,142,400 times
Reputation: 2677
Quote:
Originally Posted by WestCobb View Post
Who is this person who hasn't paid in? I've paid in for 20 years. I'll pay in for another 25 or so before I start collecting. By the time I start collecting though, it will probably not be there, so I'll be caught holding the bag. Why is that ok? But the thought of boomers being the ones caught is ridiculous?
Twenty years? Assuming you went to work at 18 when you graduated high school that would make you pushing 40. And your still whining about Social Security, Boomers, and "old people?" Dude... your fixing to get a big ole wake up call in about 10 years. Bless your heart........
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Old 02-21-2015, 07:33 AM
 
Location: On the Chesapeake
45,379 posts, read 60,561,367 times
Reputation: 60995
Quote:
Originally Posted by WestCobb View Post
Who is this person who hasn't paid in? I've paid in for 20 years. I'll pay in for another 25 or so before I start collecting. By the time I start collecting though, it will probably not be there, so I'll be caught holding the bag. Why is that ok? But the thought of boomers being the ones caught is ridiculous?
Unless you guys don't reproduce (which might happen with your generation's proclivity for on line girlfriends you never meet but promise to marry) Social Security will be around in some form.

What you are ignoring is that today's workers pay for today's retirees. And, as mentioned, the Baby Boom generation will be the first to pay in more than they receive (at least in the aggregate).

The people you should blame for any crisis are would be the WW II generation and to an extent the Silent Generation. They were the ones who paid in far less than they received and expanded the program to include more recipients than just retirees.
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Old 02-21-2015, 07:53 AM
 
82 posts, read 55,133 times
Reputation: 42
Quote:
Originally Posted by WestCobb View Post
I think we can all agree that Boomers had it better than any generation of Americans. They had access to the best job market, lowest house prices, best opportunities for higher education at the lowest prices, etc. They didn't do anything to deserve the privilege they got, but they didn't ask for it either. They were just fortunate.

To those whom much has been given much is expected, and I expect more from the Boomers than what we've currently gotten. At this moment in time, they have the opportunity to do something truly magnanimous. They should give up Social Security. They should lead the charge to pass a bill that anyone born between the years of 1945 and 1965 should not get paid any Social Security benefits. This would save the program for their children and grandchildren, and for once, they wouldn't be acting like a swarm of locusts laying waste to America's wealth before it can be enjoyed by future generations.

I also think conservatives who hate big government should also choose to not get their benefits as a protest regardless of when they were born.

What do you think? Good idea?
If you paid into it you should get it. Regardless of whether we need a reform.
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