Several reason not to believe...
Click here: BREITBART.COM - Bernanke: Baby Boomers Will Strain U.S.
1) On average the age of immigrants is 29. This means they pay into Socisl Security for about 40 years until they get a dime back.
2) Sky-rocketing profits yield greater corporate taxes.
3) More income to individuals from investments yields more personal taxes.
4) Older people are more likely to work.
5) More wealth yields more estate taxes.
6) I think we are seeing a new Long Boom. This means a labor shortage, already apparent up and down main streets in big cities. "Now Hiring" has apparently become co-equal with "E Pluribus Unum" as our national motto. That means there is a labor shortage, which drives up wages and taxes. (Also probably prices: unless we're careful.)
Looks pretty good from here
Ben
1) On average the age of immigrants is 29. This means they pay into Socisl Security for about 40 years until they get a dime back.
2) Sky-rocketing profits yield greater corporate taxes.
3) More income to individuals from investments yields more personal taxes.
4) Older people are more likely to work.
5) More wealth yields more estate taxes.
6) I think we are seeing a new Long Boom. This means a labor shortage, already apparent up and down main streets in big cities. "Now Hiring" has apparently become co-equal with "E Pluribus Unum" as our national motto. That means there is a labor shortage, which drives up wages and taxes. (Also probably prices: unless we're careful.)
Looks pretty good from here
Ben
posted by Ben Wattenberg at 6:46 PM
1 Comments:
are you now arguing Ben, that social security will be fine with no modifications at all? Bernanke's projections most certainly take immigration and increasing wages into account. Are you privy to some new figures that the rest of us are not? Because the last I checked, the number of workers paying into the Social Security system is projected to continue declining as the 80 million baby boomers start to retire.
Sure, immigration is saving our butts in some ways, but our fertility rate is not near what it was in the 1950s and 1960s... when the Baby Boomers parents were making today's retirees.
Post a Comment
<< Home