I could talk about how Social Security was always just a huge pyramid scheme. I could talk about how many of the “Greatest” generation contributed a few hundred dollars and will receive hundreds of thousands in benefit. I can talk about how the generation following the “Greatest” generation… the Baby Boomers, was so humongous that it was able to absorb the cost of floating the “Greatest” generation.
I could talk about how the Boomers will pay in hundreds of thousands, and will receive the same amount back from the government, only it won’t be worth as much because of inflation. I could talk about how the Boomers had less kids than their parents, and how they aborted as many as 20 Million potential Generation X’ers that would have helped fund Social Security for them.
I could talk about how the Generation X’ers are now contributing not only to the Boomer’s Social Security, but to the still living “Greatest” generation, and how they are so vastly outnumbered that when the Boomers finish retiring, they will have to pay out a huge percentage of their earnings to float their parents and grandparents, even though their grandparents paid virtually nothing into the system, and their parents aborted a huge percentage of kids that would have been their peers.
I could talk about how if Generation X will pay in hundreds of thousands of dollars, but very likely won’t receive more than a tiny portion of what they put in, in inflation adjusted dollars, assuming they’re lucky enough to get anything at all.
I could talk about the fact that Generation X already assumes that they will get nothing, but still have to pay in money each month. I could talk about the fact that Generation X is in the ugly position of having to put money into a pyramid scheme, and then still figure out how to save money for their retirement in addition, because Social Security won’t actually be any security for them.
I could talk about how even though Gen X is having more children than the Boomers did, there will still be so many Boomers alive when the Gen X’ers retire, that Gen X’s kids will surely have to drive a stake into the heart of Social Security, assuming Gen X doesn’t do it first.
I could talk about how the entire scheme only benefited those that thought it up, and that the “Greatest” generation shamelessly plundered the future generations of America, when in reality, most people are smart enough to save for their old age, and those that aren’t deserve to be poor.
I could talk about all that, but I won’t. Instead, I’ll give you this picture, because a picture is worth 1000 words.