Have you tried buying private insurance out on the open market, without the benefits of buying through an employer or being "needy" enough to fall under government plans?
You forgot your /sarc tag. Social security cannot be solvent as long as the older population continues to live longer.
No, actually, I didn't.
Social Security here is in trouble largely because the Federals played accounting games with the so-called "trust fund," using excess receipts to fund spending binges and creating deferred tax increases down the line for future generations.
At least Canada's CPP equivalent invests in more than just effectively worthless U.S. Government IOUs. Plus, the tax rate is lower: 4.95 percent of the employee's wages up to CAD 43,700 (USD 39,070 at present exchange rates) vs. 6.20 percent of the employee's wages up to USD 106,800 (CAD 119,455 at present exchange rates) under Social Security, and that's before any increases by the Obama administration and the Democrat-controlled Congress. Oh, and the retirement age is lower: 60/65 in Canada vs. 62/67 here.
“Have you tried buying private insurance out on the open market, without the benefits of buying through an employer or being “needy” enough to fall under government plans?”
yes, its really pretty easy to get. Get a basic plan for what some people spend on booze every month.
“Social Security here is in trouble largely because the Federals played accounting games with the so-called “trust fund,””
Its in trouble for that but also because Americans live MUCH longer now than they did when it was implemented. With the baby boomers we’ll have a disproportionate number of people on SS with a much lower number of people paying in.
I can retire whenever I want to. I don’t need the govt to dictate that. I pay zero state income tax.
And many of Canada’s taxes are incurred on the purchase of items like cars.
I’m no expert rab, but I suspect the whole thing is a house of cards.
Meanwhile, I still hobble around.
Have a good night.