Thursday, April 4, 2013

Medicare Taranto

The abundance of workers paying payroll taxes made it possible to keep the pyramid going and to provide ever more generous benefits to the baby boomers' progenitors. But the blessing of the baby boom is in the process of becoming a curse. Yesterday's army of workers is tomorrow's army of beneficiaries. Baby boomers were far less fertile than their parents, in part because women were focusing on commercial work at the expense of home and hearth. That compounds both problems: those women are now among the retirees due benefits in their own right, and the children they forwent are not among the workers paying taxes to support them.

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