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> Add the very real prospect of social security collapsing There is absolutely no prospect whatsoever of Social Security collapsing. A 0% chance. There is no f
by freddie_mercury 8y ago
> Add the very real prospect of social security collapsing
There is absolutely no prospect whatsoever of Social Security collapsing. A 0% chance. There is no factual basis, only flat-earth anti-vaxxer type scare mongering, for any claim to the contrary. Social Security is funded by payroll taxes. The only way Social Security could "collapse" is if people stop getting paid.
- user5994461 8y agoCollapse is maybe a strong word, let's call it an adjustment. There are less and less workers having a job and paying taxes, while there are more and more benefits to pay for. This is especially applicable to elderly and pensions, in countries with a socialized pension system. Imagine the situation where both parents are getting retired and were promised 80% of their salaries, while both their children can't get a job. It's all too common nowadays. There is no tax to collect. This may not be too much of a problem in the US where there is limited pension, healthcare or unemployment. Europe will hurt though.