alt Hacker NewsIt's not the boomers' fault, they were misled into believing the social security system they were paying into was a genuine savings system, not just a perpetual wealth transfer system from the young to the old.
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avidiax • yesterday at 9:13 PM
How were they mislead?
From day one, Social Security was a "new money pays old money" scheme, the one thing that makes it Ponzi-like.
To be fair, the boomers got screwed in the 1980's SS reform to pay for their parents (but had it sweet before), so maybe this is just paying it forward.
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It was really FDR who abused wartime power to make a constitutionally illegal program. Now we’re in a complete demographic mess which is basically unsolvable because the pyramid is inverted.