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<blockquote data-quote="DriveInDriveOut" data-source="post: 4177220" data-attributes="member: 44954"><p>This explains it pretty well.</p><p>Your generation did not pay in enough, so you want to steal it from your children.</p><p><em></em></p><p><em>#8: Young workers’ lifetime income would be reduced by more than 2% of their career earnings because of Social Security. </em>Social Security on balance will leave younger generations worse off, even after they have collected all their benefits. This outcome occurs because <strong>Social Security’s shortfall is caused mostly by benefits significantly exceeding taxes for individuals who have already entered the system, </strong>either as current beneficiaries, past beneficiaries, or current workers. In order to finance this <strong>subsidy to older generations</strong>, upcoming workers must contribute more to Social Security than they later receive back.</p><p></p><p><a href="https://economics21.org/eight-revealing-numbers-social-security-2100-act" target="_blank">Eight Revealing Numbers from the Social Security 2100 Act</a></p></blockquote><p></p>
[QUOTE="DriveInDriveOut, post: 4177220, member: 44954"] This explains it pretty well. Your generation did not pay in enough, so you want to steal it from your children. [I] #8: Young workers’ lifetime income would be reduced by more than 2% of their career earnings because of Social Security. [/I]Social Security on balance will leave younger generations worse off, even after they have collected all their benefits. This outcome occurs because [B]Social Security’s shortfall is caused mostly by benefits significantly exceeding taxes for individuals who have already entered the system, [/B]either as current beneficiaries, past beneficiaries, or current workers. In order to finance this [B]subsidy to older generations[/B], upcoming workers must contribute more to Social Security than they later receive back. [URL="https://economics21.org/eight-revealing-numbers-social-security-2100-act"]Eight Revealing Numbers from the Social Security 2100 Act[/URL] [/QUOTE]
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