If you like your Social Security you can keep 77% of it - maybe less.

or maybe they'll opt out

You must be out of the loop

The youngins plan on getting nothing... and you think it's funny somehow..
It will affect you

It's a good thing they plan on getting nothing, yet work their lives away to pay into a bankrupt system.

That's the price of voting for democrats. That's the cost of all the free stuff democrats promise.

I guess they'll just have to cut welfare, EBT, and other bennies the freeloaders get to bolster social security.

Look for ever increasing retirement ages at which you can claim any benefits for starters. You younguns better get serious about leaning on your 'representatives' AND start to CYOA now, you will be old before you know it take my word for it.

I am 51 and my official retirement age for full SS benefits is 67.

the baby boomers will crush the system, the gen-x-ers will be screwed to be old during the recovery, the millenials will be fine the system will be back on track by then

Whats so funny about the older generations living off the youngsters?

Hope they will grow their own food and you end up with 0% of it, cause there won't be any taxes.

Robots don't pay taxes you know.

And most of all, you haven't got your 77%, so the joke can still be on you.

Yeah, right now the younger generations are living off the oldsters.

What did the article say, that there are 69 million baby boomers. Yes, that is 69 million people that have paid into the SS system all of their lives!

Where did the money go?

The government has been "borrowing" from SS for several decades now.

What you OP don't understand is that money is obsolete soon.

The rich is getting richer and power is consolidating.

Soon, small groups of people can have millions of robots working for them, producing food automatically, and how are you going to compete with their prices?

What ever you can do, they can do it cheaper.

Unless you are an engineer or programmer, you are out of the loop.

So things get cheaper, but less and less will be working.
Until the debt bubble bursts.

They will end up with all the power, and money will be obsolete.
It will be EBT for 98%.
You will have what they allow you to have.

All you can do is start over a new civilization.

They are being born into debt.
The older ones used the money, and the kids are paying.
+ interest.

What's so funny is that the math doesn't work! Over the next ten years, tens of millions of boomers will reach retirement age. The government, which made them lofty promises of a return of their money in their GOLDEN YEARS, has been lying its ass off for decades. Politicians have been raiding that money to buy votes that has built their political careers. Many are still in DC - they're freaking ancient dinosaurs right now and have been living large off of money hard working taxpayers were forced to set aside for their own retirements. The money is fucking GONE, GONE, GONE just in time for tens of millions to reach retirement age.

There is about $200 TRILLION - that's a shit load - in unfunded liabilities. "Unfunded liabilities" means promises that government has made and they have no idea where the money will come from. The money doesn't fucking EXIST!

So, if people are going to grow their own food, they'd better figure out where the water is going to come from and then there's the EPA and FDA who is more than happy to outlaw farmer's markets and the like. Good luck with that.

Thanks for the pine!

Good luck. Your employer takes it out of your paycheck as it stands now.

I'm 46. We are so screwed.

i am too, but what is to stop them from have a little meeting
and making our age to be 68.

americans have elected officials who have looted ss for decades.

too bad americans vote for organized criminals.

Lyndon Johnson moved SS to the General Fund to finance the war in Vietnam. 1968 is when he announded it in his State of the Union address. And then there was his War on Poverty, which needed funding too.

Until that time, the SS fund had a surplus.

Don't blame the oldsters. The oldsters had $$ confiscated from their paycheck to go into the SS fund. It was the Democrats who took the lock off the box, and both parties dug in with both hands and helped themselves

"Borrowing" needs to be in quotes. RAIDING is the actual term for what they've done.

You can steal $10 from people at the end of a gun and it's considered illegal. You can steal $200 trillion from generations on the floor of the US Senate and it's considered, "Compassionate."

It is the same shit here in Germany. Our social system was one of the best in the world until these filthy savage third world invaders came and started using the money. Now in less than 30 years the system will not be able to support anyone.

No, the older ones are paying for the kids.

and you will work till you die paying the man, because there will be nothing such as benefits.

Benefits were paid for by taxes when you work. That's the reason they still have to honor it.

You Sir, pay none, so you will get none.

Laugh now, because you won't when you are old enough to consider the ramifications.

Happy 'living under a bridge at 60' to you.

I fully understand, and you're right. That was kinda my point behind my cynical title. We're all fucked, but the kids being born today are being born into financial SLAVERY. They're being saddled with a debt they cannot possibly repay and will get no benefit from. Retirees, who paid into a system FORCED ON THEM by supposedly well intentioned liberal democrats, will never be able to retire. That's the price they'll pay for all the free shit they voted for.

It doesn't matter what party you support, in America, you pay taxes- plain and simple. Where in the world do you live that you don't pay taxes?

Even a mandated savings account paying 1% would be more secure, start putting 5% of your after tax income in it at age 18 and you're talking real money THAT BELONGS TO YOU by age 65. Compound interest is a beautiful thing.

You've successfully managed to miss the whole point. The SS tax is money the government takes out of our paycheck to supposedly fund our own retirement later in life. Granted, it funds current retirees and the kids will supposedly fund ours later. But that's not how the system actually works. We pay in, the politicians raid the account, and then when we want to retire and we want a return of money WE WORKED FOR that's supposed to be saved for us isn't fucking there.

If you can't understand that, then log the fuck off.

Compound interest?????????????????

"Compound interest" means you get interest on not only the principal that you put in, but on the previous interest income as well. It's profit on profit.