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Social security and Medicare are supposed to provide a floor and prevent elderly poverty. We’ve gotten much much richer (which somehow previous generations neve
by bradleyjg 5y ago
Social security and Medicare are supposed to provide a floor and prevent elderly poverty. We’ve gotten much much richer (which somehow previous generations never get any credit for) and so that floor seems a lot lower than it used to.
Beyond keeping the elderly out of poverty I’m not sure there’s a problem to solve. If people would rather drive a BMW in their 30s than play golf in their 70s who am I to tell them they are wrong?
- jlokier 5y ago> We’ve gotten much much richer (which somehow previous generations never get any credit for) Astute point. I hacn't thought of it that way before. All the talk about past generations "borrowing from their grandchildren's credit card" doesn't take into account the wealth created for the grandchildren to inherit. I wonder how these forces balance out when evaluated by economists.