Stock up on Depends
For years the data has been clear but the dirty little topic that noone wants to talk about is Social Security and the impending crisis due to an aging baby boom population. Politicians keep talking about lower taxes and spend the SS 'surplus' without regard to this statistical certainty and people are willing to believe that somehow it will all be taken care of by the time they retire. Massachusetts, A.K.A. Taxachusetts, has one of the highest rates of taxation in the 50 states yet even after years of economic boom we are in severe deficit with politicians still telling people the fairy tale of lower taxes they want to hear.
We scoff at the Scandinavian countries for having such high taxation but they not only have health care, retirement and the best education on the planet, they also have been aware of this problem for years and are taking steps to help alleviate the problem before it arrives. I fear it is already too late for the slow bureaucratic machine that only moves quickly when there are bombs involved to address this situation before it is a crisis. Retirement will be a thing of the past for the working class.
permalink Ω 8 April 2002, Helsinki






