To: Bill who wrote (72430 ) 1/17/2000 3:36:00 PM From: Lizzie Tudor Read Replies (1) | Respond to
Chart 41: "Percentage of the elderly in poverty has fallen in recent decades"Not so many years ago, to be old in America was to be poor. That is no longer true. Children, instead, are now the most likely group to experience poverty. For every $9. the federal government spends for the elderly, it spends $1. for children and youth. The combined employee/empolyer payroll tax started at 2% of a workers first $3000. in earnings, or $60. for an entire year for those with the highest incomes. Most people paid much less. While it is true that some elderly are indigent and need help, it is equally clear that the elderly welfare system transfers much of the nation's income in the wrong direction: from many working poor people who pay Social Security and Medicare taxes to higher income retirees, a deplorable state for our fiscal affairs. senior citizens constitute the wealthiest age group in the country. They can take hits in benefits just like everyone else. concordcoalition.org
