2 ms·
What about old-age entitlements? I see loads of cash go out for FICA-match / self-employment tax (along with a jumbo portion of debt) to top-up the underfunded
by jstewartmobile 9y ago
What about old-age entitlements? I see loads of cash go out for FICA-match / self-employment tax (along with a jumbo portion of debt) to top-up the underfunded entitlements of previous generations.
I doubt the younger people working today are going to get back, in real terms, anywhere near the amounts they put in.
- a3n 9y agoSimilarly, families who pay for their aged parents and grandparents to live in assisted or medical facilities, or their own apartments, don't get back anywhere near the amounts that they put in.
- jstewartmobile 9y agoNot the same thing. Minor nitpick is that senescence care is not the same thing as free healthcare and side income from 65 and up when the life expectancy is nearly 80 years. Major nitpic would be that Westernized peoples are barely replacing themselves, we're around 2.9 workers per retiree and falling, and it takes around a third of the annual federal budget--which roughly corresponds to the amount of debt we take on each year--to cover it. When you set up a system to transfer wealth from young to old, it stops working so well when people stop having kids. Japan is already being crushed by this. They will not be the last.