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And if I understand the parenthetical part of my quote, (with typo) they are adding to what is paid in to account for (conservatively) what it would have done if invested.
Then for couples with above average incomes, it's obviously going to be more negative.
Interesting it's turning negative for some groups of people, that wasn't supposed to happen for a while yet. Also interesting the charts don't match between different parts of the article. Which is right?
Still overall, not for specific types of people it's still a pretty big payout from soclal security over paid in. From the article:
According to this calculation, past and current generations will pay $71.3 trillion in payroll taxes but will receive $93.4 trillion in benefits. Adjusting for past and future transfers from the federal Treasury, the difference between "paid-in" and "paid-out" works out to $21.6 trillion.
Ceffer
2015 Oct 25, 10:31am
The Millennial XYers think that if they have to work at all, it should be in a mod, pure white office staffed with cool people with cool, casual clothes, tattoos, piercings and haircuts and company provided new smart phones every couple of months. Bagels and Starbucks buffets are everywhere. They can come and go as they please on their own recognizance. Education is just happening to know everything, just like in the movie and TV scripts, exactly when the information is needed, without cracking a book or studying. Everybody will have a successful novel in the works without spending any time writing. Better yet, they will write children's books, make art, write songs or start a blog that has so many hits, somebody craves to buy their ouvres for millions.
After a couple of years of this excruciating labor, they will retire with stock options and permanent benefits as gazillionaires, and spend the rest of their lives clubbing, traveling, blinging and concentrating on more meaningful tatoos to have their life message scrolled on their bodies. There will then be little time for whining, but they will work whining into their busy schedules, because whining got them where they are.
Anything beyond that is a fog.
Y
2015 Oct 25, 10:58am
Blame it on the frenchies coupled with student transfers...
The REAL problem is that you whiney ass millennials want the full pension after only working 3 years at a company.
FortWayne
2015 Oct 25, 2:32pm
Plus, it's the Boomer's fault that, after working for decades in a company, they leave wit a pension?? Really?? The REAL problem is that you whiney ass millennials want the full pension after only working 3 years at a company.
From what I've seen everyone who is unionized wants a full salary for life after sitting on their ass for 25 years. And they still find time to complain and protest when collecting retirement benefits for longer period than they managed to work. We've been an entitled nation for a very long time. The last generation that wasn't was our "greatest generation". We've been on downhill ever since.
FNWGMOBDVZXDNW
2015 Dec 11, 6:51am
Millennials are also wanting boots on the ground against ISIS - just not their own boots.
Maybe, we'll have to resort to a draft, like we had to do back when their daddies were trying to stay out of Vietnam. That way, only poor, dark skinned, and middling people will have to die in the desert. Trump types can flat foot their way to the couch.
ja
2015 Dec 11, 7:18am
The Millennial XYers think that if they have to work at all, it should be in a mod, pure white office staffed with cool people with cool, casual clothes, tattoos, piercings and haircuts and company provided new smart phones every couple of months. Bagels and Starbucks buffets are everywhere. They can come and go as they please on their own recognizance. Education is just happening to know everything, just like in the movie and TV scripts, exactly when the information is needed, without cracking a book or studying. Everybody will have a successful novel in the works without spending any time writing. Better yet, they will write children's books, make art, write songs or start a blog that has so many hits, somebody craves to buy their ouvres for millions.
That wouldn't be fair for the boomers.
Let's adjust.
A= median life expected (salary+ pension - housing expense - health care cost - education cost ) for a boomer
B= median life expected (salary+ pension - housing expense - health care cost - education cost ) for a X
Let's adjust for inflation
Let's create a tax on boomers that covers the difference A-B-(increase national debt). They'll have to pay it over their expected life, so, at the end everything evens out.
We could try to find more items, but I think this a first good approach
curious2
2015 Dec 11, 5:14pm
Millennials are also wanting boots on the ground against ISIS - just not their own boots.
Maybe, we'll have to resort to a draft, like we had to do back when their daddies were trying to stay out of Vietnam.
Ugh - the Democrats seem to love conscription, from Woodrow Wilson to Lyndon Johnson to Jimmy Carter (reinstated registration) and Obamneycare and Mark Shields. Here's a thought: if we don't have enough volunteers to wage war in the middle east, then the obvious solution is to STOP WAGING WAR in the middle east. Let AF/DBOAPD sort it out - he'll know what to do.
Dan8267
2015 Dec 12, 1:48am
if we don't have enough volunteers to wage war in the middle east, then the obvious solution is to STOP WAGING WAR in the middle east.
But that would be like voting, which is Unamerican! What's next, paying for the hospital care of those who do volunteer so that they don't die after coming home? Damn entitled veterans.
Michael Bolton is only good at telling people what they want to hear, but the guy isn't a man of action. He blames gay chindian billionaires for his difficulties in life but is silent on all the threads pertaining to Islam. Damn chindian billionaires and their sexual preferences...if it hadn't been for them, poor whiny Bolton would be shitting gold bricks by now
Lef AF/DBOAPD sort it out - he'll know what to do.
Voting matters... Good one, keep em coming
But that would be like voting, which is Unamerican
justme
2015 Dec 13, 11:59am
coup de gras
That typo was funny on so many levels. Gras(french)==Fat(english). coup de gras = “strike of greaseâ€. Yeah, those fat boomerfucks strike again.
Let them eat liverwurst, I say.
justme
2015 Dec 13, 12:04pm
DieBankOfAmericaPhukkingDie says
ISIS could be handled with a bounty system.
$1000 a scalp or two of four limbs.
Who would't want to pack up the M134 and see what you could bring home during a few weeks vacation blowing jihadi fucks the fuck away?
I know you are jesting, but for those who did not get the joke: Remember what happened last time we put a bounty on terrorists and "foreign fighters". That's right, enterprising Afghans of many political colors rounded up any brown-skinned foreigner they could find and sold them to the CIA. The innocent are now dying a slow death in Guantanmo Bay. Our capitalist Gulag Guantanamo in the archipelago of Cuba is every bit as bad as what the Soviets had.
justme
2015 Dec 13, 2:09pm
DieBankOfAmericaPhukkingDie says
I know you are jesting
Gosh, you caught me!
Don't forget we have impressionable and childlike minds here.
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http://www.realclearpolitics.com/articles/2015/01/08/the_most_entitled_generation_isnt_millennials_its_baby_boomers_125184.html
"For the first time in America’s history, an entire generation of her citizens is poorer, more indebted, and less employed than the preceding generations.
That generation is the Millennials – our generation.
The culprit, say some social commenters, are Millennials themselves. In this telling, we are a lazy cohort of entitled and narcissistic brats– the proverbial “Generation Me.†But this is a classic case of blaming the victim....
...The truth: The economic tragedy of the Millennial generation was written before many of us had even learned to read – by Baby Boomer parents and grandparents who, at once, genuinely love and care for us, but have also created or perpetuated institutions, policies, and economic realities that have now hobbled us.
Our generation has been called “entitled.†We beg to differ. If any generation is entitled, it’s our parents’ and grandparents’ generation: the Baby Boomers.
True entitlement is tripling the national debt since the 1980s and using the proceeds to spend lavishly on tax cuts and government programs that primarily provided short-term economic boosts, while refusing to raise the Social Security age of retirement or to reduce benefits, even as the gluttonous program careens toward unsustainability.
True entitlement is allowing the reasonable minimum wage that Baby Boomers enjoyed when they were our age to deteriorate while opting to cut taxes on the gains from stocks and bonds that they accrued during periods of debt-driven economic and stock-market surges – creating an economy where wage earners at all income levels, as of 2012, receive a smaller portion of economic output at any time since 1929.
True entitlement is, for decades, enjoying the benefits of the lowest energy costs in the world while refusing to price-in the external costs of carbon emissions, exacerbating the real changes to our planet that pose profound risks to the environment and economy for which Millennials will soon be the primary stewards.
These grave consequences were entirely foreseeable – but they happened. Young Americans have been fleeced in order to fund the transient excesses of the old – and yet Milliennials are labeled “entitled†because we were given “participation trophies†and “personal tutors†before we were old enough to vote...?
Give us a break. Millennials are not entitled. But we are frustrated....
Read more: http://www.realclearpolitics.com/articles/2015/01/08/the_most_entitled_generation_isnt_millennials_its_baby_boomers_125184.html#ixzz3oyG8Ga9m
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