Stuff I found interesting or amusing and thought I'd share.
- Life expectancy according to the CDC. I see that graph and all I can think is that Social Security in its current form is doomed.
- Michael McCann on the US v Google case and why Google did not do a "motion to dismiss."
- Leadership Lessons from The Godfather
- American Thinker on why the numbers actually look good for President Trump
- The Silicon Graybeard on the Michigan "Computer Glitch" (HT Borepatch)
People will live longer lives, but many are working longer too. If you depend only on Social Security, you are out of luck already. If people can save in 401k plans they may have a chance. Very likely Social Security will be a quaint notion for the future.
ReplyDeleteThere is nothing wrong with social security as designed. There is a problem with social security as used.
ReplyDeleteSS was NEVER intended to be the sole source of income for the elderly. Large families were the norm. Generational homes were the norm. Personal savings were the norm. The concept of 'retirement' was a quaint and classist affectation like going to college (another thing the Feds ruined when FDR coopted it). Working people didn't 'retire'. Presidents and lawyers did. The gold watch after 50 years was so notable because it was so rare. People who complain about low SS payouts are the same one who think a small tax refund is a bad thing - a plague of grasshoppers incapable of or unwilling to plan for winter.
Social Security was supposed to be a safety net for our most vulnerable but you cannot avoid the fact that now it is a defacto retirement plan. The rules surrounding it need to be changed to raise the age (but keep the promise to people to people who are within 20-years of retirement). Also change the rules about working after reaching retirement age.
ReplyDeleteThis from a guy who never plans to retire.