Pri-dk:
Wow, did you ever get it wrong.
Yes, seniors who saved all their lives for retirement and now get a negative rate of return on their savings (.5% minus inflation) are victims, on that front. That’s all I claimed.
As to those now getting their social security checks, I agree they are getting far more compensation for their taxes paid in during their working years, which was a very low percentage in the 1950s and 60s. They got a good deal compared to today’s twenty-something and thirty-something workers. But that’s another subject.
For those seniors living in their paid off homes (which calls for congratulations, not condemnation), and “paying 1976 level property taxes” (Prop 13 actually passed in 1978), that may comprise 1 in 10 CA seniors, at most.
Hey, lighten up!
