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December 28, 2007

BABY BOOMERS

Pretty much everybody hates us. But we don't care, as long as it's still all about us.

(Thanks to John Regan)

Comments

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as a bona fide boomer, all I can say is, "make sure you make all of your social security contributions. If'n you do that, you can pretty much say whatever you want, cause I'm gonna get mine back, an' what you say about me don't really matter."

I don't care. I am a "boomer-1946". We vote, so all of you younger people are going to pay for my retirement. So, if I haven't said it before, thanks for the Condo Payments.

Dave, we don't hate you. We just wish you would grow up.

Not really. Happy 58th, Tom.

WOW!
Wyo Simul. Not only in time but thought.

*Igloo shoe-horns "in" between but and thought.*
However, "between but and thought" seems to describe the Thorax; if I was an insect.

...and, BTW Boomers, I officially ended my tax-paying, FICA-paying career @ 4pm this afternoon. That $83 trillion in unfunded FICA that everybody was pretending didn't exist? Well, I'm the first person opting out, just after the first Boomer retired. Good luck collecting that from folks that refuse to pay it! I also retired today, 20 years early, so let me know how that works out for you!

From now on, I'm earning at or below the poverty line, on purpose.

PARTY!!

Hey, did they just call us old? (Someone get my glasses, please.)

What did Meanie say? Get my hearing aid please.

CJ you've not just retired, you've begun a whole new career. Long Hours, bad pay, sleepless nights. Self employment, the American Dream.

(from one who knows all too well.)

seriously, best of luck to you on your new life, CJ, don't forget the cabinet maker in Wyoming when you need 'im.

*knocks on monitor*

Is this thing on? Where's the volume knob?

Gotta love CJ's childish beliefs. FICA doesn't fund Social Security. The General fund pays for it; and to pay for it, the Gov'ment will raise general taxes...gas, food, income, license fees, etc.
So CJ, you will, indirectly fund this Seminole's retirement.
Thanks in advance.

I'm at the other end of the boom (1964.) Can't wait to see what's left in 20 years.

Igloo, you are mistaken; the Payroll Tax funds SSI. Congress steals from the Payroll Tax to cover their General Fund expenditures, but they can't hide that much longer. When I drop out of the system as a payer and go down near poverty level, the current system will offer me an Earned Income Tax Credit; essentially, they will pay me for not working. Plus you lose what the idiots in Washington expect me to pay in FICA and Income Tax, during my top earning years.

I have not a whit of concern about what current and past Congresses have promised in Medicare or SSI, then spent, stealing from the Payroll Tax. They proudly spent $1M to put lights on a bridge in Jacksonville for the Super Bowl; enjoy those. Now that they have to start spending General Funds to cover their IOUs, let me know how that works out. I won't be paying in, anymore, and folks younger than me will not pay in to cover the IOUs; they will stop working. You had your chance to cut spending. We now cease funding. I can get away with this, as a bachelor with options, but I will not be the last. I will not fund one penny of one other person's retirement or medical benefits. I have always earned my own salary and never taken one cent of even a medical benefit, only subsidized other employees that treat medical benefits as a payment plan. See ya! I'll take care of myself.

That sooo did not make me "LOL".

Sad to say CJ, but the money will be spent; IOU's will continue; taxes of all sorts will increase.
I also have always earned my own salary and the last time I saw a Doctor was in 1973.

Uh-oh....

I love the link - VF!

For the record, my last look at unfunded liabilities that are 'promised' is approximately $83 trillion. That's the entire Federal Budget for the next 166 years. That grows, every year, so that's a snapshot. That means, if the entire Federal Government spends not one penny for the next 166 years, we can pay off what we have currently 'promised' to the Boomers in Social Security and Medicare. Somehow, I doubt the Federal Government will keep itself at or near zero spending for the next 166 years, so I see a bit of a shortfall.

I know this is a humor blog and that is my humurous post. These are figures that are laughable and that is before we assume the liabilities of the laughable pension and benefit plans that Boomers are counting on. The money would only be there if we continued to grow, as a population. Unfortunately, we are only growing in those portions of the population that use benefits, not those that contribute. I am guilty, as a bachelor, for not having kids that will grow up to pay into the system, but I can't change that now.

Not, at least, without a few drinks and a shotgun wedding.

CJ- Best of luck with your new adventures. I'm the youngest of 5 (just turned 49). I'm hoping my FICA "contributions" will give my older brothers and sisters some help in their later years, but I assume there will be nothing for me when I need it. I just assume I'll be working into my 80's...if someone will hire me then.

No real argument from me on your facts and figures. Just being selfish in knowing that nothing will be done about it. The government (legislative and executive branches) will continue with a cash basis accounting system, while the rest of the world will be using accrual.
When It all comes crashing down, most likely I will be "pushing up daises", and it will have no effect on me. Just in case I live longer than 20 years, I have encouraged my two sons to marry and multiply.

I haven't boomed yet. I'm in the pre-booming stage. So I'll be happy when I finally boom.

*HOT FLASH*

Ok...who's in charge of the geezer bus?? TURN ON THE DAMN A/C!!!!

Love you, Sio!

There is no 'safety net' for yall. I won't pay for it, heck... I'll be charging you as impovorished.

Honestly, I have some ideas and I will be paying for you, but JUST STOP IT!

I can't carry you guys, forever.

I'm very skinny.

Nice. Gloat because you're going to get your benefits while we pay with no hope of the return of our money. That is really, really nice. Appreciate it.

First, Dave, they're just jealous, obviously, because they know we're the best and even if they don't know it, we know it, right? So who cares what they think?

CJ, if that was your "humorous" post...well, I hope you've calmed down a little. Blaming "us" may be fun for you but try blaming the people who are to blame - the Presidents and Congresses who have made the mess and continue to do so.

Anyway, some of us retirees are liking things the way they are and counting the days (less than 3 years) until we can start getting some of those Social Security goodies.

;)

i'm a proud boomer geezer, and all i have to say to the 'author' of that article is: Bite me.

Jeff, there is a simple solution. Allow us younger folk to place that 16% of our paychecks into something that actually grows, then fund the system off some of that interest. FICA 'grows' @ 1% per year, which is less than inflation. I can't solve it, but if Congress starts seeing people my age and younger stop paying into the slush fund that the spend (instead of setting aside), they will have nothing left to spend. My phiolosophy is: Atlas Shrugs. It's not the Boomer's faults, it's Congress that has chosen to create a file cabinet full of IOUs; once younger people start refusing to pay in, they won't resist fixing the system they are spending out of, because there won't be any more money for them to spend. I'm actually looking forward to the Boomer retirements, because every single year they're gonna have to take more out of the General Fund, until @ 2013, when there will no longer be a General Fund! The only other option the spendaholics have is to increase the FICA contribution from younger folks from 16% to 35%, on top of Income Tax...good luck getting your kids out of the basement at @ 50% Federal tax rate on income!

Boomer here - 1957.

I've been paying FICA since I was 14. Now they tell me I can't collect until I'm 67. I have absolutely no hope of there being any funds available at that time. Since the ex got half of my 401k looks like I'll be working for a LONG time.

As someone at either the tail end of Gen X or the beginning of Gen Y, depending on how you count it, I'd have to COMPLETELY agree with the Gen X edited version of the AARP magazine! Also, the story totally made me LOL! 60 is NOT the "new 40"---it's just 60, and there's nothing WRONG with being 60, but please stop trying to wear clothes that today's teenagers are wearing--you don't look cool, you just look silly!

Does it really matter what the label is? What generation? We are getting older and that is probably the only truth...Yes generations do come with tags and personalities because of what is going on in the outside world. Lets just enjoy life..live with high food and gas prices and find solutions and make a few changes..Simple enough???Carol Stanley

author "For Kids 59.99 and Over" release September 1

Does it really matter what the label is? What generation? We are getting older and that is probably the only truth...Yes generations do come with tags and personalities because of what is going on in the outside world. Lets just enjoy life..live with high food and gas prices and find solutions and make a few changes..Simple enough???Carol Stanley

author "For Kids 59.99 and Over" release September 1

Does it really matter what the label is? What generation? We are getting older and that is probably the only truth...Yes generations do come with tags and personalities because of what is going on in the outside world. Lets just enjoy life..live with high food and gas prices and find solutions and make a few changes..Simple enough???Carol Stanley

author "For Kids 59.99 and Over" release September 1

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