About pensions.... "naturally" what happens is that a person accumulates some wealth in the course of ones lifetime, and then, when unable to work, those funds get transferred to younger people, as needs come up. In case of government pensions, like with our Social Security, they force us to pay - on the promise that later they'll force the younger generation to pay us. The net result is that presently, younger people will have to pay for a huge generation of old baby boomers, who never did anything for them.
I think it is realistic that the younger generation may revolt.
If you think about it, all government sponsored inter-generational arrangements are vulnerable the same way. Think for a moment, for example, what happened to great numbers of pensioners in Russia, after the Bolsheviks took power. They starved. Almost the same thing happened when, a few decades later, the USSR was falling apart. All those inter-generational deals and promises sponsored by governments went belly up. The same thing may yet happen in the years to come in Western Europe and in the US.
It would be better if my payments to SS would be kept and accumulated in my name. They would have added up to a lot of money. The way things stand, power greedy politicians have blown those funds long ago. |
