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in Australia, when we pay taxes, we get a receipt. The receipt shows what our taxes were spent on (lemmy.world)

submitted 11 months ago by Agent641@lemmy.world to c/mildlyinteresting@lemmy.world

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I assume "Other purposes" is govt kickbacks to mining and gas companies 😬

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[-] MooseBoys@lemmy.world 25 points 11 months ago

USA:

Defense: |||||||| |||||||| |||||||| |||||||| |||||||| |||||||| ||||||||
Boomer Welfare: |||||||| |||||||| |||||||| |||||||| ||||||||
Interest on Debt: |||||||| ||||||||
Everything Else: |

[-] Jonna@lemmy.world 8 points 11 months ago

As yet, social security is still a SELF-FUNDING program that lends money to the general fund. I'm gen-x, not a boomer. Stop buying into generational warfare. We have more in common with working class boomers than with gen Z tech bros.

[-] MooseBoys@lemmy.world 9 points 11 months ago* (last edited 11 months ago)

social security is still a SELF-FUNDING program

It’s also had negative cash flow for the last decade despite exponentially growing future obligations, and is currently trending towards insolvency by 2033. That’s what happens when you detach expenditures from taxes. So while boomers are simultaneously enjoying low taxes and reaping the benefits of social security, the fund will run out of money before it can have any chance of paying out for millennials. It’s not like the social security taxes I’m paying now are being “set aside” for me - they’re going directly into the welfare checks for my parents.

[-] Emu@lemmy.ml 3 points 11 months ago

and what's wrong with "social services" having a negative cash flow? It's to help people in need, that's the entire purpose of taxes, to help the community/country. why do people think that any government systems should be positive cash flow like it's a business? LOL

[-] dragonflyteaparty@lemmy.world 1 points 11 months ago* (last edited 11 months ago)

Pretty sure they aren't upset at the government not turning a profit or taking care of people.

social security is still a SELF-FUNDING program

[Insolvency is] what happens when you detach expenditures from taxes.

So while boomers are simultaneously enjoying low taxes and reaping the benefits of social security, the fund will run out of money before it can have any chance of paying out for millennials.

It’s not like the social security taxes I’m paying now are being “set aside” for me

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this post was submitted on 21 Jul 2023

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