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- Aug 27, 2010
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According to the 2010 Social Security Trustees report, the 75-year gap is estimated to be $5.4 trillion -- still a big number. But theres another way to express it: it equals just 0.7 percent of our projected economic output over that same period. Thats less than one penny on the dollar.
So if we, as members of a nominal democracy, want to live in a society where older people arent mired in poverty -- its estimated that four in 10 would be without Social Security benefits -- then all we have to do to close the gap is increase overall taxes by less than a single percentage point. Problem solved! And we didnt even require an august commission.
We're Being Conned on Social Security -- How We Could Easily Raise Benefits or Allow People to Retire Earlier | Economy | AlterNet
So if we, as members of a nominal democracy, want to live in a society where older people arent mired in poverty -- its estimated that four in 10 would be without Social Security benefits -- then all we have to do to close the gap is increase overall taxes by less than a single percentage point. Problem solved! And we didnt even require an august commission.
We're Being Conned on Social Security -- How We Could Easily Raise Benefits or Allow People to Retire Earlier | Economy | AlterNet
