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It seems like maybe they didn’t pay in enough - baby boom demographics meant there were relatively more productive workers paying for relatively few old people,
by ericd 3y ago
It seems like maybe they didn’t pay in enough - baby boom demographics meant there were relatively more productive workers paying for relatively few old people, so each worker was paying a fraction of what it would cost to carry themselves through old age.
Also, not enough kids, and of those, not enough who wanted to go into medicine.
It seems like baby booms have a way of making things seem artificially good for a while, and then there’s a hangover.
- deleted 3y ago[deleted]
- ilyt 3y ago> It seems like maybe they didn’t pay in enough - baby boom demographics meant there were relatively more productive workers paying for relatively few old people, so each worker was paying a fraction of what it would cost to carry themselves through old age. Right but manufacturing technology better and more efficient, we produce far more "per worker" now
- ericd 3y agoYeah, but I don’t think we’ve seen commensurate gains with healthcare workers, except by perhaps reducing visit time per patient.
- anigbrowl 3y agoPerhaps the inference is that the owners of industrial technology should be paying more taxes on their profits, since the proportion of labor as an input is shrinking.