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View Diary: A Promise Broken To Seniors (257 comments)

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  •  Not true. (5+ / 0-)

    Reagan raised the retirement age AND the Social Security payroll contribution significantly - and the reason?  To fund 'the impending baby boomer claims on the system'.  I've been paying that increased payroll tax for 30 years.  I have FUCKING paid my way and I don't want to hear this BULLSHIT again.  Jesus FUCKING Christ!

    you don't need a weatherman to know which way the wind blows

    by Dem Beans on Thu Dec 20, 2012 at 12:41:40 PM PST

    [ Parent ]

    •  what did i say that was not true? (1+ / 0-)
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      virginislandsguy
      it's a restructuring for the impending baby boomer claims on the system.

      the labor force that replaced the boomers wasn't nearly so large

      and not all seniors have social security as their only income.

      are baby boomer claims not impending?  this is not a restructuring of SS?  are you saying the labor pools that came after the baby boomer generation were, in fact, larger?  

      is it your contention, then, that ALL seniors ONLY have social security for income?

      hence all the projections of SS being in trouble in a couple of decades.
      if this is the one you're on about, take it up with the SS trustees, whose 2012 report says basically the exact same things i just did:

      http://www.ssa.gov/...

      Both Medicare and Social Security cannot sustain projected long-run program costs under currently scheduled financing, and legislative modifications are necessary to avoid disruptive consequences for beneficiaries and taxpayers.

      ...Both programs will experience cost growth substantially in excess of GDP growth in the coming decades due to aging of the population

      ...Through the mid-2030s, population aging caused by the large baby-boom generation entering retirement and lower-birth-rate generations entering employment will be the largest single factor causing costs to grow more rapidly than GDP.

      ...The deficit of non-interest income relative to expenditures was about $49 billion in 2010 and $45 billion in 2011, and the Trustees project that it will average about $66 billion between 2012 and 2018 before rising steeply as the economy slows after the recovery is complete and the number of beneficiaries continues to grow at a substantially faster rate than the number of covered workers.

      Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

      by Cedwyn on Thu Dec 20, 2012 at 01:43:17 PM PST

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