4 ms·
We already see indirect youth tax in the USA in the form of social security - millennials will never see the benefits from their life-long contributions that th
by beeboop 4y ago
We already see indirect youth tax in the USA in the form of social security - millennials will never see the benefits from their life-long contributions that the current retired age group is seeing. As it is currently benefits will decline 22% in 2034, and even further by the time millennials hit 65+.
- dogma1138 4y agoIn the UK national insurance is 13.5% from the employee and 15.5% from the employer… And all you get is £170 a week pension if you are lucky. So the social security equivalent in the UK comes to about 28% of the salary of most UK workers. It does only kick in if you are paid more than £240 a week for the employee part and £170 for the employer part, and does taper off for the employee to 3.5% for income above £4300 a month but for all intents and purposes this hold true for most workers.