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Dec 16, 2013

U.S. Social Security Benefits Are Low By World Standards


5 comments:

  1. You can afford more generous benefits when the US is footing the bill for your defense. High on the list? Spain and Greece.

    Justin

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  2. We don't pay in very much here in America.

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  3. This would only be useful if it was corrected to reflect the amount we are taxed.

    For example, the highest marginal tax rate in the Netherlands is around 53%, while is is about 39.5% in the USA.

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  4. to piggyback on 3:24

    Let's also get a chart showing the number of applications and percentage of working-age population applying for and receiving these benefits by country. I wonder if many of the countries with high payment amounts have the HUGE percentage (despite having a similar post-WWII baby boom--care to explain that?) of working age adults applying for and receiving disability benefits that we here in the U S of A do.

    I also wonder how many of these industrialized countries have a looser standard of disability (i.e., I am aware that some western european countries find one disabled if one cannot do the work he trained to do--a much lower bar), indicating that, all other things being equal, they should have higher rates of applications/receipts of disability.

    tl;dnr: as 3:24 started to show us, we need much more data on various aspects of this issue before anyone can assert anything of substance with accuracy.

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  5. 9:21 here again

    Let this be a lesson to us all. One chart, one set of data--anything can seem sensational or seem to imply something that, if you dig a little deeper, isn't really proven at all. We should all strive for more data to inform our decision making.

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