T
Texas_Roofer
Guest
Please do not give up, we have to all grow and develop. I have no special gift at predicting the future with accuracy. Alan Greenspan spoke at great length on this issue however his work is a labor to read. It is simple to understand soon a 100 million retires will be drawing benefits from the government, who will supply the money? Not the Americans under 20 so who? There will be only about 200 million workers at that time. So you have a condition in which each worker will need to pay $18,000 in to Social Security and Medicare in addition to normal taxes! That will be tough. Immigrants who do not qualify for these systems can easily reduce that number by 1/3. Frankly taxing the retires will provide another 20%. All ready reduction in government retirement plans, plus cuts in school funding, plus reduced government colas are being used. More benefit cuts plus more taxes are coming. BTW simply printing money will only cause inflation which will drastical hurt the retires.