Rick Raw: Walking the Social Security Treadmill–It’s No Gravy Train

By Rick Grant rickgrant01@comcast.net www.rickatnight.com

First, let’s clear the air. I loathe the term "Baby Boomer" (BB) with all its cliche connotations. At 67, I was born in 1941, making me "pre-BB," since the consensus is the BB factor affects birth dates from 1946–after WWII to 1965–Vietnam era. I am neither a baby of that time frame nor did I join the BB brigade. Yes, I’m riding the Social Security (SS) train as it chugs along, sending automatic deposits into my bank account every month. Along with my wife’s SS amount and what I make as a journalist, we are barely making it every month. By any stretch of the imagination, this is no gravy train! And, it was a rude awakening that when I earned over a certain amount plus my SS, and the IRS wanted its share. That’s taxation double jeopardy, since SS was already a tax. "Look, you IRS goons, I paid that tax, now you want more," I yelled.

Too many smartass twentysomethings, who say seniors are draining SS dry, living high on the hog, I say, remember, we paid into that fund for many years. It’s our money. Yet, young people resent the fact that they have to pay SS taxes to the tune of 12.4 percent of their paycheck. They argue that by the time they reach 62, the SS fund will be broke. Of course, this beastly SS system, like all bloated government bureaucracies, needs to be eliminated and new ideas to make old age at least tolerable put into place. Ah, but SS is the bastard step child of politics. For political candidates to even mention tampering with SS is tantamount to committing political suicide.

However, now that the BB population (80 million) are reaching retirement age, it opens up a $2.1 trillion market that vastly transcends the highly touted 18-34 demographic, which is a myth. Many of the retiring seniors have provided for their elder years by saving vast sums of money (smarty-pants) which, in addition to SS, will provide a comfortable lifestyle for them. More importantly, they will buy things like smaller houses, RVs, vacation cabins in the woods, and partake in leisure activities like golf and sex (yes sex) now that the kids are gone (hallelujah) and Viagra is readily available.

Today, seniors citizens are living longer and enjoying it. The image of seniors staring at the wall in a nursing home is cliche. Sadly, though, dementia and Alzheimers hit an alarming percentage of older Americans. It’s insidious and tragic, but we must be compassionate and treat these people with dignity. Medical breakthroughs are happening every day and a cure for Alzheimers is a real possibility. I’ve already had cancer and beat it, but Alzheimers really scares me. I test my memory every day, and if I can remember my checking account number, and at least some of my passwords and user names, (jeez, there are so many) I figure I’m okay.

In reality, the horror of SS going belly up is a hypothetical threat, decades into the future. When the projected demise of SS happens in 2041, most BBs will be dead and a new system put into place. By then, other factors will be in play such as long term trends in immigration, expanded life expectancy, and who knows, maybe there will be a cure for old age. Then what the hell will we do? A system of selective termination would have to be in place to get rid of the long-living slackers who are 150 years old but look 40 and are living off the labors of the hapless twentysomethings. Tennis anyone? A career as a hitman may be a growth industry.

Like me, healthy seniors can keep on working indefinitely or until they drop dead. But taxing us is unconscionable and burdens us unnecessarily. Senior citizens on SS should not be taxed! Period! Barack Obama is the only candidate to offer that consideration as an election promise. Huckabee wants to eliminate the IRS, which is great, but I doubt he could actually get that accomplished. Dismantling such an ingrained bureaucracy, employing thousands of people, would cause an ungodly uproar on the Hill, and Huckabee would be stonewalled on the issue. But it’s a wonderful idea, and if he wasn’t a Baptist preacher (I hate preachers) and appealing to the religious right, I’d vote for him.

So, trust me, SS is no golden years’ boon. Admittedly, I screwed up and didn’t save enough money for my senior years. However, I do enjoy working as a journalist which enriches my life. And, fortunately for me, I have simple tastes and hobbies. Until I crossover to the other side, I’m living my dream–somewhat downsized, but nonetheless, a productive existence.