• @[email protected]
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    81 month ago

    lol it was always just extra income tax to anyone under 40. Only fools expected to see that money come back.

    • @[email protected]OP
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      21 month ago

      It was always a substitute for paying to maintain your parents or grandparents in retirement. Unless you’re an immigrant, you’ve already been getting it back.

        • @meeeeetch
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          51 month ago

          The money they paid was so that their parents and grandparents had a little something going into retirement.

          • @[email protected]OP
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            11 month ago

            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.

            • @meeeeetch
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              11 month ago

              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.

              • @[email protected]
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                11 month ago

                It’s technically not a ponzi, it’s just a standard pay-as-you-go system which requires some sort of growth in revenues (such as population growth or changes in taxation) to be sustainable.

                A ponzi scheme is fraud that can never pay out what it promised.

                • ℍ𝕂-𝟞𝟝
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                  11 month ago

                  It can also be sustainable if the surplus during population growth are invested and not spent.

                  Somehow with these systems governments are very silent when they can skim off the top because more people are paying in and they can use that money to patch other holes in the budget, but they somehow become very critical of the system once that money would need to be paid back from the budget.