• 0 Posts
  • 17 Comments
Joined 3 years ago
cake
Cake day: July 29th, 2023

help-circle









  • That’s exactly how it works, well other than me having the dates off as the Boomers weren’t even born when Social Security was enacted by FDR. When Social Security was enacted, retirees started receiving benefits even if they never paid into the system, which was paid for by the current workers who were paying into the system. It’s been like that ever since. Social Security is also not a pension.

    You are correct that for most people would be better off investing their Social Security taxes into a hedge fund but workers don’t really have a choice in the matter.


  • That’s not how Social Security works. The money the Boomers paid into the system went to paying benefits for the previous generations. The benefits the Boomers (at least the ones that have retired) are getting now is being paid by the workers in the younger generations. While it’s true the program has run a surplus, if the young taxpayers stopped paying into the system that surplus wouldn’t last very long.





  • The article is about what to do with all the actual physical coins. I would assume the treasury will start gathering them and scrapping them. The old copper coins can be recycled easy enough as there’s plenty of demand for copper, but I have no idea what they’ll do with all the zinc (copper plated) coins. Apparently they don’t know either as there isn’t any plan in place.

    Supposedly when the mint decided to start pulling the 1943 steel cents from circulation years ago they ended up dumping a bunch of them in the ocean to get rid of them. Some people consider that an urban legend but perhaps that could happen.