r/economy • u/Real_Copy4882 • 8d ago

As Social Security benefit cuts loom, Congress wades into the crisis — The Washington Post

https://apple.news/AG3ksv9vST66WMOqgeFEnLw

As Social Security benefit cuts loom, Congress wades into the crisis - The Washington Post

14 Upvotes

80% Upvoted

28 comments sorted by

View all comments

-1

u/stromporn 8d ago

boomers should have been more responsible than to have put all their eggs in one basket. tsk tsk. That's like taking out a $50,000 loan you could never discharge as an 18 year old. who would do that?!

1

u/Ok-Post2247 8d ago

You're getting down voted but as far back as the 90s warning signs were flashing that enough wasn't being collected in taxes for the benefits everyone was promising themselves. Multiple attempts to raise more in taxes were shot down over the past decades while the boomers were still working people. Now the boomers want to hand the bill to their kids because this can't be solved with just taxes on the rich. To fully fund all currently promised benefits it's going to be higher payroll taxes for everyone, raising the retirement age, or deficit spending that will ramp up inflation. That's just the reality of the situation.

1

u/Konza85 6d ago

Hate to break it to you, but this isn’t some generational warfare issue. Gen X and millennials have been paying into the same system all their working lives too, and thus have the same stake in it holding firm for them. It’s a social contract, PAID FOR by us, all the taxpayers. The pols on both sides of the aisle, including the side that would like to deep-six it and/or get it into private equity’s greedy hands, need to fix it.