Among the many elephants dwelling in the Western room today, the retirement one is far from the smallest. Namely, the retirement system works like a Ponzi scheme: boomers, who are very numerous in proportion thanks to them not having had enough children, and who live much longer than the elders of before, keep milking the younger generations to maintain their costly lifestyle.
Boomers also rely on a number of pillars, both public and private, to maintain themselves: immigration guaranteeing cheap labour; student loans, high rents so that the young keep shoveling hard-earned money into their capitalization schemes, offshoring, freelance work, and so on. Fortunately, every empire falls and the boomers’ one is showing signs of serious decline.
The Social Security system is in trouble. It’s not just a future problem; America’s retirement insurance program is in trouble now. The federal government will start dipping into its Social Security savings account this year to help pay retirement benefits to millions of Americans.
In 2018, the federal government expects to receive about $2 billion less in payroll taxes and investment income than it will need to pay workers through the Old-Age, Survivors, and Disability Insurance program. If nothing changes, that savings account will run dry by 2034, right around when the last of the baby boomers reach retirement age. After that, the government will only have enough money to pay retirees and disabled workers 79 cents for every dollar they’re owed.
These findings were recently published in the Social Security Administration’s 2018 trustees report, prompting the expected torrent of alarming headlines…
To “save” muh medicare, the journalist promotes immigration, including the illegal one, and more taxes on “rich workers.” Are young workers rich when they manage to scramble beyond minimal wage? And, when boomers who claim to be conservative support such ideas, where’s the rule of law when illegal aliens are celebrated as such instead of getting kicked out immediately?
Undocumented immigrants and immigrants with legal status pay billions of dollars each year into the Social Security system through payroll taxes. Based on estimates in the trustees report, the more immigrants that come in, the longer the Social Security system will stay solvent. That’s because immigrants, on average, are a lot younger than the overall US population, so their retirement is far off. And undocumented immigrants pay for Social Security, but they’re not allowed to get benefits…
The reason for that nose dive is because, for the first time in more than 30 years, the Social Security system is running a deficit. That means that in 2017, the federal government cut more Social Security checks to retirees and disabled workers than it collected in payroll taxes from the current workforce. The federal government will have to start dipping into the $2.9 trillion trust fund to keep paying out benefits. This year, the government will probably have to take about $2 billion from the trust fund, according to the report.
Furthermore, Social Security now costs more than before because more Americans are retiring, and they are living longer. In 1960, about 5.1 workers supported each person receiving a retirement or disability check, and that ratio has been shrinking ever since. In 2013, there were 2.9 workers for every beneficiary. So the current level of payroll taxes is no longer enough to keep the program afloat.
Dear boomers, let me tell you what you—not the State, not the X and millennials, not immigrants, no one but you—need to do to solve the problem. Stop thinking you are the only ones who matter. If you were responsible elders, you would accept renouncing to some of your costly habits. No, you don’t need to travel that expensive cruise, take a trip to the spa every month, go to the restaurant all the time or keep these big houses all for yourselves. And no, you don’t have an unconditional right to do so, nor do you deserve to.
The elders of before—you know, those you called fascists back in these awesome 60’s and 70’s—did not pretend they could take everything they wanted. They didn’t blurt out dat’s mirite!, vote for Big Government and let their children, grand-children and baby grand-grandchildren sank into debt. They knew there is no such thing as a free lunch, and even when they had toiled all their lives in factories or tilling the Earth—not in a cushy office like most of you boomers did—they also knew that, at some point, they have to pass the torch.
The media complaining that boomers are “hurt” are as dishonest as Silicon Valley moguls weeping crocodile tears to get more HB-1 workers. No, there is not, and there never was any lack of competent workforce in the US or anywhere in the West when it comes to STEM jobs: moguls just wanted cheaper labour. In similar fashion, the boomers complain solipsistically about themselves without ever paying attention to the obvious—they have already milked everything they could, and now, if they don’t have new slaves they can suck dry, they may have to renounce building that second swimming pool behind their McMansion. Wow, so sad!
No, boomers aren’t getting “hurt” and they aren’t little innocent angels. Their lifestyle and their stubborn willingness to maintain it no matter the cost is hurting us. X, Y, Z—and all the Western civilization that is now imploding from debt, feminism and non-whites’ migratory onslaught. Millennials work multiple jobs, jump from one gig to another, compete with millions of Juan Illegals so that Courtney and Brett can get a luxury dinner for the third time this week.
Poor boomers? Give me a break. As a generation they have already wasted their own inheritance long ago. They became used to living well beyond their means. Worse, they pretend that drowning us all under debt, high rents, unfair competition and so on is all and well to maintain these expenditures they shouldn’t even have done in the first place.
Want a common-sensical solution to Medicare and retirement pensions deficit? Simple: lower them, so that they become cheaper and don’t drain the wealth. During hard times, rationing is the evident thing to do. Boomers should just stop gushing into luxury and accept that they, too, have some duties to fulfill. After all, they talked so much about the future generations when it was fashionable. You’ve already consumed way too much when you were younger. Now accept life as it is and learn voluntary simplicity instead of spending, spending and spending like you always did.
Some will point out that boomers’ lives are not only a bed of roses. Aging comes with drawbacks and most, if not all boomers, keep a keen eye on not paying for the expensive treatments they need. But even then—yes, even when we’re talking of Alzheimer disease, cancers and other unglamorous afflictions—I’d still say this: just accept it.
People have always declined and died off because of old age. There’s no reason it does not happen to boomers as well. And I don’t think fair to pay a couple more years to an old bag of wrinkles who swallows fifty pills a day when young families struggle to barely pay their rent.
Death makes room for the future generations to grow. If boomers want to live for more than a century, that’s simple: go back to work and earn your right to keep living for so long. If you want a luxury lifestyle—earn it, do not steal it cunningly as you already did for too long.
This is as simple as that. Most boomers already had too much ease and cultural weight in the course of their lives. Now learn to shut the fuck up and pass the torch before it blows up in your faces.
The retirement system was sustainable when there were numerous workers and pensioners living within their means. We millennials won’t benefit from it. Any knowledgeable young person knows the whole system will crash well before we get old enough to ask for any money. Well, as it will blow up anyway, the better outcome would be a early crash so that we don’t get drained anymore.
Making America great again doesn’t mean saving its millions of parasites. The same thing goes for the whole West, by the way—France has the exact same problems of social security and retirement deficits, compounded with Africans systematically clogging our hospitals, too. No: MAGA equates to higher wages, more jobs, more opportunities, less immigrants and less parasites. Including those who believe they can sink the ship with them.
If we survive at all, no doubt the future generations will thank The Donald for draining the swamp.