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This is called "altering the deal". Anyway, aren't you one of those who swears that old people's saved money is no good and they should actually have to personally provide for themselves in their dotage, or have their kids do so?
"We made a deal, but you never signed it or voted for it because it was before you were born, but don't worry about how much it's costing you because you'll get paid back by other people who still haven't been born, except of course that the demographic pyramid is now much taller and upside down and our accountants say there's no way you can't get mostly stiffed. Are you really saying you want to alter that deal?"
I believe the appropriate counter-meme here is the "Yes Chad".
I'm probably near enough to the peak "going to get screwed when the younger people wise up" age that I certainly can't be happy about the situation, but it is what it is.
I'm a bit of an AI doomer, but if we're going to insist that someone to do all our work and pay for our leisure without deciding to just let us all die instead, I think creating AGI to ask might still give us better odds than asking the ever-shrinking younger generations of First World countries. And just in case that Fully Automated Luxury Geriatric Space Welfare-Capitalism plan remains mere fantasy for too long, in the meantime it might be a wise idea to back off on the massive debt-funded entitlements gradually, before we add too much more risk that our creditors will decide to back off suddenly. In the worst case, there might be so much of a backlash that the "saved money is no good" contingent actually gets into power. It's dismaying how many young Americans hold favorable views of socialism, but if they perceive the status quo as "socialism, just not for you" then I can see how they might imagine they'd be upgrading.
The real risk to old people is bringing in a bunch of third worlders who then have to support the old people who the immigrants have no connection to which in a democracy means the olds gibs will get voted away.
Seems to be mostly anti-immigration types trying to cut off social security. Immigrants seem to be generally for all gibs.
Oh for sure the immigrants of for gibs for them and the party giving out gibs are gibs for most. But my prediction is that when those immigrants move from a key bloc to the main bloc a different calculus will arise.
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The people who want to cut off Social Security for "boomers" (really Xers) and who want to take the houses of old people because they aren't using them appropriately are pretty much the same. The group which thinks old people's money is no good and if you aren't working now, you shouldn't be able to pay for things is a subset of them. You can't appease them (or anyone, really); victory anywhere would only embolden them. Otherwise I'd be more open to cutting off SS.
The Xers are already showing serious creaks in the structure. Anybody looking at an age distribution chart has to be very alarmed.
If an old person is totally self-funding their retirement and has an expensive house I have no malice to them. I do suspect they might be happier moving into a purpose-built assisted living community someplace with cheaper land values, but that's their choice. The issue becomes when massive subsidies, far exceeding the individual's lifetime contribution are piled on somebody who is also holding a very valuable asset which is increasingly happening.
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I think that we should try to still give old people a decent retirement within our means, but it has to be kept in mind that this was boomers making a deal among themselves that now doesn't work out due to their own foreseeable failings. It's really hard for me to feel sympathy for a generation that went through a boom period with a 10-to-1 dependency ratio now not getting what they promised themselves because the dependency ratio is now 2.5-to-1.
The "deal" is older than the Boomers. And any cutting-off won't fall on most of the boomers; the reality of numbers and the speed of politics means it'll be Generation X which is cut off, plus maybe a few of the youngest boomers.
Yes that's true. Which is why most young people are quite militant since they know it's an inevitability that their personal access to the luxury communism will likely be killed off before they get to harvest a cent
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The deal is going to be altered regardless. The Boomer block is still 5-10 years off peak demographic overhang and the system is already cracking. Public funded retirement can continue to exist but either age or provision of care needs to be shifted till the books somewhat balance.
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