We're Frugal
From the
Associated Press:
Compared with most public pension systems in Europe, Social Security is downright frugal.
On average, European pensions are more much generous than Social Security, providing retirees with benefits that come closer to matching the wages they earned when they were working. Americans are expected to rely more heavily on private pensions and savings when they retire.
European workers also have been able to retire earlier than American workers, though many European countries are retreating from those policies, a subject that has caused more than a little unrest.
Taxes also are higher in most European countries and some of their retirement systems are facing worse financial problems than Social Security.
Yeah, and other than Germany how are the countries in Europe doing financially?
ReplyDeleteSocial Security was an incentive to get people to retire (and poor one at that). We need to educate people in school that the entire system is propped up on replacing [i]some[/i] of their income when they retire; replacing the rest is on them.
ReplyDeletePS. The captcha is getting harder and harder to actually read.
the most socialist-looking European countries are doing quite well -- Norway, Sweden, Finland, Denmark...
ReplyDeleteYep, the world's leading economic powers--tough to argue with that, huh.
ReplyDelete