Thread: The world I would love to live in.

Originally Posted by Jimbo

Australia recently did the math, or so they tell us - in 10 years time (or so) the amount going out (aged pensions and medical etc) will be greater than the amount coming in (tax etc) overall.

I guess running a country needs to take the whole picture into account - individuals will of course vary, but as a whole (in terms of budget) an ageing population spells budget shortfalls into the future unless you do something to fill them. That could mean reductions in Govt support, an increase in tax, increasing the retirement age (same as increasing tax, really, but with different social consequences), or combinations etc.

I think this is a common trend across the western, capitalist world. Countries that supply aged services, pensions etc are going to have to face the reality of an increased average life expectancy (i.e. more payouts) combined with a decreased birth rate (lower productivity and tax base) and global economic slowdown.

James.

The U.S will be faced with the same in about 20 yrs,income/outgo.I just want back what I paid into it unwillingly and paid back monthly with zero interest I might add,I paid $4500/yr after tax money to fund many things other than SS.Granted I pay no tax on my disberstments.

Originally Posted by gugi

May be it's for the ammunition to have them killed on sight and the excavators to bury them in - we're going to better times right?

Cannot kill the kids,40K since october last, projected 70K this year,what the U.s will do is give them all a drivers license,food stamps,housing,schooling Etc,on and on,than they will start to procreate and eventually there will be millions of them.
Than the Mexicans will try to take back Texas,AZ and Kali

Sorry about that. Not bad math just bad typing on a iPhone. And I was on a ranthit the wrong keys it's 347 bear in mind the last 14 years have seen aprox 15 k a year go into it before the the max was lower up to 73 k a year So no not 527 Glad you seen that so I could correct But you can see we pay a lot for what we do it's not the earners who are draining it. Tc

Originally Posted by Jimbo

Australia recently did the math, or so they tell us - in 10 years time (or so) the amount going out (aged pensions and medical etc) will be greater than the amount coming in (tax etc) overall.

I guess running a country needs to take the whole picture into account - individuals will of course vary, but as a whole (in terms of budget) an ageing population spells budget shortfalls into the future unless you do something to fill them. That could mean reductions in Govt support, an increase in tax, increasing the retirement age (same as increasing tax, really, but with different social consequences), or combinations etc.

I think this is a common trend across the western, capitalist world. Countries that supply aged services, pensions etc are going to have to face the reality of an increased average life expectancy (i.e. more payouts) combined with a decreased birth rate (lower productivity and tax base) and global economic slowdown.

James.

Already happened here with recent changes made to the Canada Pension Plan. Standby for more of the same.

Bob

Originally Posted by tcrideshd

Sorry about that. Not bad math just bad typing on a iPhone. And I was on a ranthit the wrong keys it's 347 bear in mind the last 14 years have seen aprox 15 k a year go into it before the the max was lower up to 73 k a year So no not 527 Glad you seen that so I could correct But you can see we pay a lot for what we do it's not the earners who are draining it. Tc

The max the feds can deduct is $7254 Per yr no matter how much you make.

Originally Posted by pixelfixed

Than the Mexicans will try to take back Texas,AZ and Kali

They've already done it to a large extent. Without firing a shot.