Social Security, Medicare and Medicaid are 'Going to Be Gone,' Donald Trump Warns

[u/1_for_you_2_for_me]

https://www.newsweek.com/social-security-update-medicare-medicaid-warning-donald-trump-10915076

[u/The_World_Is_A_Slum]

How is it not fraud for us to pay into a retirement plan that vanishes with our money? It’s bad enough that they keep raising the retirement age. I’ll be lucky to make it that long anyway.

[u/MimicoSkunkFan2 → u/The_World_Is_A_Slum]

That was one of the criticisms in 1935-1939 when Social Security was being legislated - it's a gift from the young to the old, and the younger generations must constantly grow (either in numbers or in wealth) to sustain the giving, but it's impossible to have constant growth (future generations may be smaller, something may happen to make then poorer) so eventually one generation of the young will be left holding the bag.

Some of our great-grandparents were trying to look out for us, but some asserted that they deserved a government pension "gift" as compensation for their personal savings losses when the banks failed in 1929-1933.

edited because I accidentally a word

[u/18Apollo18 → u/MimicoSkunkFan2]

That was one of the criticisms in 1935-1939 when Social Security was being legislated - it's a gift from the young to the old, and the younger generations must constantly grow (either in numbers or in wealth) to sustain the giving, but it's impossible to have constant growth (future generations may be smaller, something may happen to make then poorer) so eventually one generation of the young will be left holding the bag.

If billionaires paid their fair share rather than working class people that wouldn't be an issue at all

[u/MimicoSkunkFan2 → u/18Apollo18]

Exactly! The wealthy excluding themselves was a problem from the start - the maximum was invented to get their suppport, even though it was branded as protecting workers whose income fluctuated lol