Nancy Pelosi, is that you?
Both sides. I agree, Congress shouldn't profit from foreknowledge of legislation. It isn't ethical. Granted, being in such positions of power also provides a general foreknowledge as to where the future is headed. Regardless, it'd be nice if such knowledge wasn't taken advantage of.
Regarding the S&P and Oil, this is a war of sorts. NO ONE, should profit from war.
And yet, the only real reason we have wars is that somebody profits. The rest is just PR.
It occurred to me, the solution to the Social Security shortfall would be to invest 1/2 of the FICA funds in a way that matches the investments of those in Congress.
My father was always very adamantly opposed to the government investing SS in markets. Although I did not agree with him much politically, I agree with that.
The better solution is to collect SS on earnings at higher earned income than is currently taxed for SS. For 2026, the current amount of labor income subject to SS tax is $184,500. I think it should be significantly higher. That would help.
Younger generations than we Boomers are and will increasingly complain that there will be nothing left in SS for them. It is the consequence of generations having much smaller families or foregoing children altogether. I wrote this without any judgement at all: it is what it is.
Now, before the deluge of how good we boomers always had it begins, I’d like to point out some things:
1. We were raised by traumatized parents born into or just before the Great Depression during which there was no social safety net and people died of starvation here in the US. Including at least one of my relatives. Their parents endured WWI with all of those traumas and privations as well. They endured WWII with all that meant. Rationing, air raids, loss of fathers, sons, brothers. More deprivation. Some of our fathers served in Korea as well. Some of us were conceived to keep our fathers out of Korea.
Of course the 50’s, much sanitized were times of prosperity. That prosperity was relative. My kids consider how I grew up to be ‘poor.’ We were not poor. We did not have much money but my parents bought Avery modest house when their 4th child was born. AFAIK, there was never any worry about not being able to make re t or the mortgage. My mother was a stay at home mother, which was living the dream. Both of my parents were raised on families where one of their parents was chronically ill until they died early in their childhoods, and mostly raised themselves. My grandparents were poor during their kids’ childhoods and in fact, I remember when both of sets of grandparents got indoor plumbing.
We endured measles, mumps, rubella and chickenpox because there were no vaccinations against such. Fortunately there was a vaccine for smallpox which is why we all have scars on our upper arms.
Our parents were thrilled to be able to have only one parent working, at least when we were small. That does not mean all the mothers were happy at home but had to listen to society tell them they were happy and lucky even if they felt trapped.
More of us got to finish high school and avoiding the draft (Viet Nam) encouraged more boys to go to college. We girls had to fight to be allowed to play sports, wear pants to school or take classes that were considered ‘too hard’ or too masculine. A friend in high school who dreamed of becoming an architect was not allowed to take a drafting class in high school. Homecoming was required for girls and forbidden to boys.
We had fewer siblings because our mothers could get the Pill and some of us managed to do it as well. Some of us had abortions. Some of us got married at 14 or 15 or 16. We had to drop out of school.
Women could not get credit in their own names nor a mortgage until 1974. When I was in college, in order to go on the Pill, you needed to want it for menstrual cramps. Not to prevent pregnancy. Guys did not like condoms. It made it harder to delay or refuse sex if you were t sure about whether the guy ‘really liked you.’ We were just beginning to talk about whether or not we wanted to have sex or if we really liked the guy. It was a bit scandalous if you didn’t like a guy back in high school. You hid your loss of virginity from your parents.
Help wanted ads were divided by male or female. Males got paid substantially more. One job I had, I was told to wear my skirt shorter and almost got fired when I discouraged a customer from hitting on me with some gentle humor. I was far less gentle when threatened by a make coworker who was more than twice my size. Fortunately he did not complain. I needed that lousy job.
We also got to experience the drug revolution, with lots of pot and in my day, mostly Fuentes rather than speed. Unfortunately that did not go away but only exoanddd to our current situation.
That only takes into account what one faced if one was white and straight. I barely knew what ‘gay’ was until I was in college—that is, I heard the word, mostly as an insult, and was vaguely aware that one of my classmates was gay, which was far from the worst problem he had. I had a couple of black classmates in the first school ( first grade) I attended and none after my parents moved to the town I grew up in. I did not meet anyone not born in the USA until I was in college. This was common unless you lived in major metropolitan areas, especially in the Midwest.
Most people had a single television which received 4 stations, all controlled by the father when he was home. Stereos? One was shared by my family. A guy I dated bought his own from money he earned at jibs that pays a lot more than the $0.50/hr I got babysitting, the only job I was allowed to have.
This was all just normal. Just middle class normal.