August 19, 2007

Social security problems in Europe

Europe is facing a pension’s crisis. I'm afraid to tell you there are millions of retirees about to live much longer than they or their governments thought they would in poverty! State pensions throughout Europe (apart from the Nordics, Netherlands, UK and Eastern Europe) are based on today's tax paying pensions. These countries are going to have to tax their working populations to pay pensions.

Social Security pension benefits in the USA are not enough to survive. That's exactly why one should not become dependent on any government, yet the policies of the left continue to encourage such dependence. People have known that there were problems with projected Social Security benefits for over 30 years. If they decided not to save outside of that system they were foolish. We can learn a lesson from Europe.

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