[QUOTE=Warfish;2952654]The one left holding the bag when quick-fixes no longer fix the problem in even the short term.
I'm curious, given your questions......are you saying you think Social Security will work perfectly forever, and that folks my age (mid 30's) or younger will see an equal return on their investment from the program?
Do you think the program is fine, and won't fail ever?[/QUOTE]
Do not forget the hidden inflation tax. This is the key here.
Social security is like fixed income.
What is the worse case scenario for a fixed-income recipient? [B][COLOR="Red"]INFLATION.[/COLOR][/B] Some think social security is adjusted for inflation, but it is really adjusted to CPI, which only captures about half of the inflation that occurs in the real economy.
Now inflation will come roaring back in a couple of years because of these never-ending bailouts. Inflation helps the govt tremendously because it makes their obligations cheaper. Currency devaluation got us out of the Great Depression I and it will be required to get us out of this Great Depression II.
So we may nominally get paid back what we put in, but in real terms we will be absolutely screwed as the purchasing power of those dollars is diminished. The inflation tax is vicious but few notice it's damaging effects.
Last edited by JetsCrazey; 01-05-2009 at 11:48 AM.