Full Title : Why Does Raising the Retirement Age Hurt Young People? What Would It Take to Start/Restart Their Careers?
Turns out trying to get people to retire later is a bad idea
Turns out trying to get people to retire later is a bad idea
Cutting pensions would probably cause massive riots, so raising retirement age is only logical way forward to keep this social pyramid scheme alive a little bit longer.
Social Security will be solvent over the next 75 years, but 16% of the gap between spending and revenue remains in the 75th year, meaning the program is not yet sustainable.
YOUR POLICY SELECTIONS % OF GAP CLOSED
Slow Benefit Growth for Top 20% Of Earners 11% Limit Spousal Benefits for High Earners 3% Create Minimum Benefit at 125% of Poverty -3% Means-Test Benefits for Higher Earners 16% Tax All Wages Above $400,000 67% Apply the Payroll Tax to "Cafeteria Plans" 10% TOTAL 104%
And I increased benefits.
As amount of pensioners grow, their political power does too and their interest in future of the country is about zero. Why should they care, it is not their future.