Yup, the above is from Facebook. While many of the comments agreed with this philosophy, I was happy to see that quite a few did not.
Enough already. We seniors don’t deserve anything. We already consume the bulk of the federal budget, and no, we didn’t pay for what we receive, we contributed toward the costs through payroll deductions.
Most seniors had 30-40 years to prepare to be seniors and to live without work income.
They made spending and saving and debt choices all their lives, they set priorities and now they have no right to take more from younger generations.
Did seniors ( I hate that general classification) really think they could live comfortably on Social Security?
Did seniors of today think they could go through life without saving and investing and planning, managing debt and obtaining adequate insurance protection?
Roughly half of U.S. households have no emergency savings, according to a Federal Reserve survey released last year. Those that do may not have enough. Almost 60% said they couldn’t tap into rainy-day funds, borrow from family and friends or sell something to cover three months of living expenses.Source: Wall Street Journal April 15, 2020
Note the above refers to 60% of Americans, not the just the lowest 20% which legitimately may struggle to accumulate significant savings.
You may have heard that 40% of Americans can’t come up with $400 for an emergency. 40%❓I might buy 10% even 20%, but no excuse for 40%. People ages 65 to 74 spend the most on lottery tickets and pari-mutuels (betting pools).
Do seniors think Congress has money to dole out that does not come from taxes or increased debt that will lead to higher taxes and or inflation? That’s higher taxes on our children and grandchildren. ” Government” has no money.
The rhetoric that we can have it all paid for only by wealthy Americans is a myth. No country in the world does that.
I was struck by one comment on the Facebook post which said we should merely cut the pay of members of a congress and give it to seniors. I chuckled until I read the replies that seriously supported the idea. Such ignorance abounds.
Will the events of today, be a warning for seniors of the future?