| Or maybe privatize Social Security and dismantle the multigenerational Ponzi Scheme once and for all... Then lock the borders down.
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| Or maybe privatize Social Security and dismantle the multigenerational Ponzi Scheme once and for all... Then lock the borders down.
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You are assuming constant productivity rates. I envision great increases in productivity. That's why this side of the equation does not bother me either.
That wouldn't work either. The thing most people don't "get" about the Social Security Problem is that it isn't really about money. Even if every retiree reaching 65 in the year 2030 had a million dollars in stock, or land, or gold, or any other thing, we would still have the problem. It isn't about money. It's about the actual stuff that will be produced and consumed in the economy at that time. You can move money through time with bank accounts and stock markets, but you can't move food through time on that scale, or cars, or lots of other things. With so many workers, you get so much stuff. Having more money bidding on it just drives up prices unless you can bring in more workers to make more stuff. That's what the immigrants are: they're the "more workers" who will make the "more stuff." Without them, wealth in the form of stocks and bonds and whatnot is essentially illiquid: there won't be enough food and cars out there to buy, even if people have the money.