Turns out it’s not baby boomers who have taken the most from Social Security
Published Mon, Jun 10 2019 2:01 PM EDTUpdated Tue, Jun 11 2019 12:54 PM EDT
Lorie Konish
Key Points
With 10,000 baby boomers turning 65 every day, many believe the sheer size of that generation is putting undue pressure on Social Security’s funds.
But it turns out that the earliest beneficiaries, from back when the program was created in the 1930s, were actually the ones who received more money than they paid in.
Policy changes made around that time contributed to the missing reserves that program faces today. To fix that, it will require tax increases, according to the Center for Retirement Research at Boston College.
https://www.cnbc.com/2019/06/10/its-not-baby-boomers-who-have-taken-the-most-from-social-security.html
