[quote=bearishgurl]
He’s absolutely right. We supported the gens before us because that is what the SS (OASDI) “system” was in place for. Now it is our turn to be on the “receiving end,” except for one caveat. We boomers (male AND female) DID (involuntarily for decades) put substantial portions of our pay into it. A good portion of us actually maxed out our SS contributions to the maximum allowable by law. It is now our turn to collect (hopefully most or all of the “corpus” or principal) of our “contributions” back out … forget any potential “interest” we could have made on the money.
Suck it up and deal with it. We boomers did so why are Gen X/Y whining about this now?[/quote]
The older generation is reaping the benefit of having a lot of kids and the entry of women into the workforce. It’s not too hard to get a pretty nice benefit when you’ve got 4-5 people chipping in to support one person. Unfortunately the boomers didn’t have as many kids and there isn’t a big expansion of the workforce coming. You are going to have to make up for it in productivity gains which may or may not happen. Someone is going to take the hit and based on the current economic trends it’ probably going to be in the next 10 years and it’s probably going to heavily effect the boomers.
