To Get or Not to Get
February 17, 2010
I read this article not too long ago about Social Security now handing out more than it’s taking in: the road to collapse. California (and some consideration) and Illinois (and its pensions) seem already to be there.
For additional reading, Madonna and the government of Malawi are going to use eminent domain to free up land she wants. Being an affluent benefactress gets you things, even as it takes away from others.
Then there’s this older article about government waste in the EU. Awful.
While I dislike being pessimistic, I often am, especially regarding national pension schemes. If you’re relying solely on the government to support you in your old age and you’re under 50, you’re probably making a very bad bet. This is especially troubling to me in Japan, where I keep encountering people who believe in the national pension scheme, despite deficits, a shrinking taxpaying population, a growing tax-consuming population, and national interest rates below 1%.
Filed under: Crime, Japan, Money, Policy | Comments (0)