and say there won't be any social security for the young people today. Hogwash. The only way there won't be is if they can get away with stealing it from them like they're trying to steal everything else from the working man. Yes, with the baby boomers hitting the retirement age, they may be some shortfall for a period of time but a little borrowing can bridge that gap. We wouldn't even have to borrow if they'd eliminate the $106,000 threshold where anything someone makes over that is exempt from SS taxes. Of course the pukes don't want that because it costs their rich owners more.
The fact is that as the baby boomers start dying off, the amount of people collecting will fall dramatically while the people paying in will rise dramatically and we will once again be running a surplus in social security. After the baby boomers, there was a significant drop off in the birth rate from 1965 to 1986 and when these people start collecting, there will be plenty of money in the till to pay them. After 1986, the birth rate once again rose and all these people will be contributing to the fund and the fund will once again be awash in cash. Here's a chart of US births.
According to this chart births per 1000 are at an all time low. Baby boomers were between 1945 - 1954. What about 1960 when the rate was 23.7? Or 1970 when the rate was 18.4? Current rate is only 13.8.
Good post Larry. There have been lies spread about social security and the republicans are running with these lies in an attempt take from people what they paid for. As of now social security has enough money to pay all retirees thru 2042 and by that time the baby boomers will be mostly dead. Heres a good article with facts and figures even thou a lot of people do not seem to want facts and figures brought into the discussion just ranting with false claims.
You realize that article is 4 years old and in that time the projected date has gone down 5 years to 2037? Add in the 3 years of no job growth, fewer people paying in and Obama continually cutting the payroll tax and the next projections will be even sooner than 2037.
Nice find tax man. Yet they have these moron Teabaggers convinced that they can't afford to pay them the social security that they paid for and the idiots say, duh, OK. I've never seen a dumber, more gullible group. I'll bet if they ever get a little extra money to spend, they send it to TV preachers and buy worthless junk from the TV infomercials. Do you mind if I use that article and post it on other boards?