One more thing: When Boomers look at their $1200 a month SS check they might not think that this is too bad of a burden.
But they need to realize that a severely disabled person living in an assisted living facility can be costing up to $8000 a month PLUS medical expenses.
Add to that medical care for all of our elderly and you begin to see how bad this problem is. Break those* numbers down to a 2 to 1 ratio of worker to retiree and you’ll begin to see how serious this problem actually is.
I know how big the problem is, (my father is paying $9000 per month for a nursing home) and I too studied this problem both in undergrad (operations management) and graduate school (economics). We were talking about problems of sustainability in the early 70s. I know that government has been hoping that the influx of immigrants (legal and otherwise) will help raise the tax income - but many of these become part of the problem rather than the solution by taking up entitlement resources without putting anything much into the system. That is why California is having such serious problems.
We have saved all our lives because we knew this was coming and we have seen a lot of it go out the door helping relatives impacted by this economy, so I am all for answers. We know we will have to continue working long past retirement age - and can because we don’t wait around waiting for other people to bail us out.
The point is, it isn’t an easy problem and in coming up with the details of the solutions, any politician is going to have to realize that the “little people” have lost their trust in the system and in politicians who say one thing and do another - and pass huge bills before they read them so they can “see what is in them.”
It doesn’t matter what the plan is. Do YOU expect Congress to work in your best interest?
The problems are huge and we need serious answers. Cain did his homework, and he is using excellent marketing to get it across. The missing element is trust that in the long run the crooks in Congress won’t let the plan be a positive for the people. 999 can easily become 15-15-15 then 20-20-20. “Invisible” taxes can be put back.
I trust Cain to be a leader with the best intentions for the country, unlike others we have seen of late who have other motivations. AND he has the experience to actually do something positive, even if it isn’t exactly 999 in the form he is presenting it. The Dems won’t let that through as is - too many people want a free lunch - and they want to eat ours. It doesn’t work when such a low percentage of people who are able to work, aren’t and the number of people who can’t work is growing.