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Mayor Bloomberg said there used to be 20 people supporting the retired person. Well there still are. Now only 3 are in this country and the rest are elsewhere.

Social security's failure has little to do with overseas jobs. It eventually fails as designed. Like any ponzi scheme, the first in get a great deal, and the last in get nothing. It started as a 1% contribution, now 15% of every dollar earned in this country is confiscated as payroll tax...mostly for social security. This was the eventuality of the situation even if jobs go overseas. In fact, the existence of this tax on employers and employees is in fact contributing to jobs going overseas. The cost of employing people is simply too high, and it is easier and easier to justify the export of jobs.

You've identified a real issue in oversees jobs, for certain, ex-snook, but I think we need to be clear as a nation what is a problem and what is a symptom. Jobs going oversees is largely a symptom of problems we have here in our own system.

“The cost of employing people is simply too high, and it is easier and easier to justify the export of jobs.”

That is an honest answer. Instead we hear it’s the ‘tax rates’ or ‘regulations’. No it’s the limboing for the lowest pay rates for lower labor costs. Nevertheless, if the 25+ million un/under employed were earning money, paying taxes and buying things, our economy would vastly improve.

But on SS, look at what you buy, see where it is made. ALL those workers and their ‘employers’ do not pay SS. If SS was collected on these products, we would not be having SS problems. SS worked until we exported the jobs. American companies and their employees have to pay SS taxes, level the playing field. Put a SS tax on all imports.