silence7@slrpnk.net to politics @lemmy.worldEnglish · 17 hours agoDOGE follows longtime Musk pattern — and turns attention to Social Security Administrationwww.semafor.comexternal-linkmessage-square34fedilinkarrow-up1226arrow-down12
arrow-up1224arrow-down1external-linkDOGE follows longtime Musk pattern — and turns attention to Social Security Administrationwww.semafor.comsilence7@slrpnk.net to politics @lemmy.worldEnglish · 17 hours agomessage-square34fedilink
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up5·12 hours agoYour parents and grandparents also paid contributions, didn’t they?
minus-squaremeeeeetch@lemmy.worldlinkfedilinkarrow-up4·9 hours agoThe money they paid was so that their parents and grandparents had a little something going into retirement.
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up1·2 hours agoAre your parents paid out according to your contributions or their own?
minus-squaremeeeeetch@lemmy.worldlinkfedilinkarrow-up1·2 hours 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.
minus-squaresilence7@slrpnk.netOPlinkfedilinkarrow-up1·3 hours 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.
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.
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.
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.