War On The Young: Social Security Edition
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  • Andrew Allison

    In addition to not adjusting for inflation, the report doesn’t take into account that if one spouses continues to work, the other will be taxed on SS benefits.

  • BrianFrankie

    Honestly, I’m actually kind of encouraged by this quick take. As someone in my early 40’s, I’m well aware I’ll (personally, not including my spouse’s wages) fork over more than $600k in taxes, and it will be considerably over $800k when my spouse’s income is included. But we’ll get more than $700k in benefits? About 87% of our input tax will return?

    I’ve been expecting no more than 50%, and planning for 0%. Overall, 87% return of principal is much better than I would have guessed. I hope Professor Steuerle is correct.

    On the other hand, you note the system is still not on sound footing, so I think I’m going to continue planning based upon never receiving any SS benefits…

  • In light of this, can we quit dumping on Boomers?

    • Jim Luebke

      Not until you help fix the problem, balance the budget, and take your share of the reduced expectations that my generation has to look forward to.

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