JoeTheEconomist
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- Sep 4, 2015
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- #41
GenXers and Millennials won't pay the cost of the system under the current plan?
If I understood the OP correctly, I think he is suggesting that what would have happened is that the Boomers would have enjoyed a reduction in SS contributions leading up to retirement, along with an increase or at least maintaining of generous benefits upon retirement, based on a short term artificially inflated SS trust. In the long term, we GenX folks and the Millenials behind us would have ended up faced with a more dire reality check, demanding an increase in SS taxes we pay, and reductions to benefits and pushing back of retirement age such that the substantially negative effects would fall on us and pass the Boomers by.
I've heard this before about Bush's plan, but have never had the details laid out to evaluate for my own self.
I drop in on these boards to get feedback.
My goal in writing is to create articles which give the average person the ability to consider the details. If the article doesn't come through, let me know.