Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

People are living too long for the SSA

Posted by taxguru on April 6, 2012

When the Social Security (SS) system was established back in the 1930s, the life expectancy of Americans was much lower than it is today. The retirement age for people to draw benefits was intentionally set higher than the expected life expectancy for the express reason that the financial model could not afford to pay benefits for everybody who had paid in.  It was necessary for many people to die off prior to receiving benefits for the imaginary SS “fund” to stay solvent, because unclaimed benefits just stay in the fund for everyone else and can’t be passed on to heirs. 

The trend of people living longer has gotten worse from SSA’s perspective and the system is now technically insolvent.  One possible solution to this problem is covered in today’s episode of NewsBusters.

 

This may sound like an absurd inconceivable idea, but you have to remember that the same incompetent corrupt people in DC who set up and run the SS system will soon be in complete charge of all of our health care; so those Death Panels they are setting up, that will decide who may continue to live, will have a built in monetary conflict of interest.

 

TaxCoach Software: Are you giving your clients what they really want?

 

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