Wednesday, January 07, 2009

Medicare/Social Security Ponzi Scheme

From John Stossel at JWR:

Ten years after Social Security passed in 1935, there were almost 42 workers for each retiree. Five years later, the ratio slipped to about 17 to 1. Now it's about 3.4 to 1. Thirty years from now, the ratio is projected to be 2 to 1.

Think of the burden on those two to three workers who'll have to support one retiree for 15 to 20 years.

With African-American males having the shortest life spans and white women having the longest...who's taking care of my mother?


Stephanie said...

Yes, there definitely is a disparity to the benefits that flow from Soc. Sec. due to varying life spans and that isn't fair (particularly when statistically some group is getting short-changed). But the whole idea is that we don't want homeless old people on our street corners, so we're willing to abide the disparities for our collective peace of mind that our old people have a little bit of money. Speaking as a white woman whose genes have been partially selected from those of a grandmother who lived to be 99.75 yrs.

Scooter said...

Just noticed this comment. I don't have a problem with SS as a concept. Just think it time to seriously rethink or demographics are going to kill us. Those worker to retiree ratios are brutal.