Hiding Among The 99%...

Ouch.

Let’s call them what they really are: the Cash-Out Generation. Over a century of prior generations invested forward, only to have this single generation cash it all in (and take highly leveraged loans for future generations to pay, when the cash wasn’t enough).
Excess wages ($85K/year for a Packard auto plant employee to shuttle parts around on a cart). Early retirement. Guaranteed pension payouts that no private investor could match. Public sector perks like nice parks, roads and environmental “feel good” rules that were funded by loans, not their own tax payments. Social security demands unmatched by their payments. Even their children’s education was something they shortchanged, demanding loans pay what they wouldn’t.
They’re the narcissistic parasites who cashed it all in. The hell with this Boomer mandate that social security be treated as an untouchable third rail. Given the demographic data on boomer wealth, it’s time to match social security payments to actuarial models based on actual payments in, without interest (remember Boomers, you’ve rejected the opportunity to have such funds invested and earning interest).
It’s either that or we’re going to cut the funding to the senior centers and let the Boomers experience accountability in their last years.

Read the original post and other comments as well.

Posted by Kate at 12:06 AM Comments (30)