silence7@slrpnk.net to politics @lemmy.worldEnglish · 16 days agoDOGE follows longtime Musk pattern — and turns attention to Social Security Administrationwww.semafor.comexternal-linkmessage-square35fedilinkarrow-up1250arrow-down12
arrow-up1248arrow-down1external-linkDOGE follows longtime Musk pattern — and turns attention to Social Security Administrationwww.semafor.comsilence7@slrpnk.net to politics @lemmy.worldEnglish · 16 days agomessage-square35fedilink
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up5·16 days agoYour parents and grandparents also paid contributions, didn’t they?
minus-squaremeeeeetch@lemmy.worldlinkfedilinkarrow-up4·16 days agoThe money they paid was so that their parents and grandparents had a little something going into retirement.
minus-squaresilence7@slrpnk.netOPlinkfedilinkarrow-up1·16 days agoExactly. It’s a system that works almost entirely as a pay-as-you-go system, with each generation paying for the retirement of their elders.
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up1·16 days agoAre your parents paid out according to your contributions or their own?
minus-squaremeeeeetch@lemmy.worldlinkfedilinkarrow-up1·16 days agoThey’re paid out according to their contributions. But they’re paid with money current workers are paying in. It is technically a ponzi, but was designed to be sustainable instead of promising reckless profits.
Your parents and grandparents also paid contributions, didn’t they?
The money they paid was so that their parents and grandparents had a little something going into retirement.
Exactly. It’s a system that works almost entirely as a pay-as-you-go system, with each generation paying for the retirement of their elders.
Are your parents paid out according to your contributions or their own?
They’re paid out according to their contributions. But they’re paid with money current workers are paying in. It is technically a ponzi, but was designed to be sustainable instead of promising reckless profits.