General Discussion
In reply to the discussion: Gen Z would rather cut Social Security benefits for current retirees than pay higher taxes to save the program [View all]Slider19
(12 posts)In the 1980s the boomer generation was the largest voting block. Social security was exempt from federal taxes. In 1984, boomers who were still far from retirement, voted to make social security taxable for their parents/grandparents. Now that boomers are retired and collecting social security, they are trying to reverse what they previously did and get social security exempt from federal taxes.
There was also massive deficit spending from when boomers were in charge of every level of government from the 80s-00s, which will need to be paid back by future generations (ie. gen Z). That bill is now coming due in the form of increasing taxes to keep social programs, like social security, solvent. A total mismanagement of funds by the boomer generation occurred before the first gen Z was born, and then boomers expect gen Z to pick up the tab. Why on earth would gen Z want to support those who selfishly disregarded the future (gen Z) generations?