There are 78 million Boomers who will be retiring in mass, for the next 20 years. The peak retirement period for the Boomer Generation will be during the period between now (2014) and 2024. After 2024, the population will beginning dying out, effectively slowing the growth rate of the demand on the SS trust fund, per the Boomer crowd. We can expect to see the demand for retirement funds to continue to slow until 2032, when the next generation of old folks hits their retirement age. 2058, (a year mentioned on the chart, itself) would be the end of this second generations primary draw on the fund. Long before this second generation reaches it's peak demand, as a retirement population, collections for retirement supplements will be grossly in adequate and, those monthly checks will drop from an average of $1,200 per month, to somewhere close to $400 per month.
Of course, Central Planning can order the increase of the SS tax on your paycheck, increasing it from the existing 7.8% if you work for an employer (16.6% self employed) to as much as 20% if you share SS cost with your employer. In other words, your pay check will be 13% smaller than it is, right now, with no guarantees you will see any of that money, if you are are 18 to 36. But keep voting for those Democrats. They are the ones who screwed this whole thing, them and their stinking Utopian Dream.
Problem with that Dream: not enough money to work 45 years and live off SS for the next 25 years. Start thinking ahead and voting for GOP commonsense financial solutions, or live in a tent, and bathe in the creek . . . those are your old age solutions.
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