In 1950, there were 16 workers paying Social Security taxes for every retired person receiving benefits. Today there are 3.3. By 2030, there will be only 2. By 2030, there will be 70 million Americans of retirement age--twice as many as today.
And the author fails to mention the impact immigration is having on our economy and what an amnesty would mean. Then there is the proposed cap and trade program that both Obama and McCain favor, which will wreck our economy even further by rasing the price of energy, the lifeblood of any economy. We re headed for a major financial train wreck.
All services anyone enjoys are performed not by the government, but by private workers. The private workers of the future and only them, will support everyone alive in their own day. Nothing anyone does today can change that one iota.
As for "retirement age", is that encoded in your DNA somewhere?
If you can afford to retire, go ahead if you feel like it. If you can't, work for a living like ordinary people.
what is left unsaid that bigger than SS and Medicare and Medicaid combined is the unfunded pensions of people like you....people that have managed to sneak thru civil service and retire early with huge uncalled for pensions....
govt pensions are the REAL story.....and its your story, as well....
civil unrest acoming.....there is no way some people will stay poor and others have lavish benefits...
When I turn 62, I am IMMEDIATELY going for my social security. A bird in the hand and all that. I’m eligible for the maximum, but it would still basically make a small house payment and that is about it. But that is something. It will augment my capital gains (and other investment) income though. And my job at McDonalds. ;)