Reality Bites: Here come the Social Security payroll tax hikes and benefit cuts- gird yourself Gen X
As usual, Gen X is about to get royally screwed. We are the tiniest generation so the pols feel free to frak us over at any given opportunity.The Boomers suck up all the benefits and live high on the economic hog (sorry guys but it’s true) and drive up the debt and Gen Y, (the spoiled ones that Obama considers his ‘base’, you know the ones WE have to carry on our insurance until they are..27!!!) are going to cut our Medicare and Social Security and send us off on an ice floe….
Boomers- 1946-1964 (inclusive), 75.8 million
Generation X = 50 Million /ages 38 – 45
Generation Y = 78 Million /21 – 40
After spending trillions they are getting ready to talk tough on the deficit, HA! and WE the lucky lucky Gen X can expect to see higher payroll taxes, higher retirement age (neat trick since the healthcare plan wont give us a damn knee replacement to work these extra years after the cuts!) AND lower Social Security benefits. Right on schedule as predicted…
The White House is considering a bipartisan commission to tackle the nation’s swelling deficit, as it seeks to show resolve on a problem that threatens its broader agenda.Top White House officials, including budget director Peter Orszag, met Tuesday with Senate Budget Committee Chairman Sen. Kent Conrad to discuss establishing such a commission, which has been pushed by Mr. Conrad, a North Dakota Democrat, and his Republican counterpart on the committee, Sen. Judd Gregg of New Hampshire.
Senior congressional officials said the idea was gaining traction. Two officials said the White House was likely to make its own proposal for a panel, which could have less power than the proposed Conrad-Gregg commission. White House aides said no final decision had been made.
The idea is to bring Republicans and Democrats together to make tough decisions about how to cut costs or raise revenue in areas including Social Security, Medicare and taxes. For the White House, establishing a commission would show that the Obama administration is serious about tackling the deficit while postponing any real moves until after the 2010 elections….
November 25, 2009. Tags: Baby Boomers, Economy, Gen X, Gen Y, Medicare cuts, My Sharona, Obama economic policy, Obama Social Security policy, Payroll Taxes, Reality Bites, retirement age, Social Security benefit cuts, Social Security Reform, Social Security taxes, Taxes. Economy, Film, Healthcare, Obama Administration, Politics, Popular Culture. Leave a comment.