Zeev's Turnips Patch-No Politics (ZEEV)

[skono4]

I wonder how many folks will make these same types of errors, with the money from their privatization of their Social Security money?

Jim
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Plenty, but that won't be the biggest issue in any case Jim. By far the biggest problem will be those who never earn enough or contribute enough to compensate for the benefits they NEED to collect as the population lives longer and longer. They will number in the tens of millions. By destroying the unions nationwide accross 90% of all private enterprise the traditional pensions and medical benefits of the working class and lowest class has been shifted from industry to government or onto the individual workers. Neither Social Security and Medicare nor the individual can absorb that financial burden so long as the wage base continues to degrade in the face of pressure from immigration and global competition. It's a downward spiral.