""Collectively my wife and I have paid around $420k into govt programs promissed to us. If you dont think I want some portion back you are sadly mistaken""
Guts, I think many boomers feel like you but we know the money is gone and went to pay our parents. Now our children are being told the system will be broken before they receive any benefits so they don't want to support it unless of course they become disabled and need it. But what will they do with the masses who refuse to or can't save for their retirement? .
My grandparents essentially worked until they died. Average life expectancies are up slightly from two generations ago. I am glad to pay for my parents SS benifits. Much of the problems with both SS and medi care have to to with political meddling. It would seem as though its much easier to say lets expand coverage to all these situations and never face the people on raising the price/tax to pay. I remain very frustrated with our govts approach to problems. its either raise revenues or change the rules based on age. When will the notion of inproved efficiency of a program ever get looked at.
euro down, sold some calls against slv position long the russel will most likely go long the qqq depending on aapl. sold all sds yesterday. GL guts
I used to listen to KGO a long time ago and I think they are well informed. Was it a caller that thought he got a tax increase? Did anyone tell them it was only a 1 year tax cut that was extended to two years? Did he want someone else to pay his SS. payroll taxes? Neither party intended to continue the temporary 2% payroll tax cut. Those worried about social security should be asking for more of their taxes to go there instead of Afghanistan.
One thing often unsaid in Social Security debate: in the 1980s I think, Greespan and others cut a deal to increase social security taxes to cover a potential future deficit. Social Security had long run account surpluses, and thereafter continute to do so. Part of the deal was to set up the Social Security Trust Fund for the surplus amouts. But, in a true(if not legal) fraud, the surpluses weren't really deposited -- the Treasury wrote IOUs and the taxes were used for, e.g., wars, etc. But for that fraud, I do not believe Social Security would be underfunded at all. (Another slander against boomers, imo.)