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Re: Entitlements
Larry J — (archived)

And do you want to be the one to tell your children and grandchildren that they'll have to pay over of 80% of their income in taxes to keep all of those entitlement programs going? That number came from Clinton's 1995 budget submission to Congress buried in the fine print. It projected that children born in 1995 would end up paying marginal tax rates of 82% just to keep the entitlement programs going. At that point, why should anyone bother to work when they only get to keep $18 out of every $100 they earn.

The only way to keep Ponzi schemes like Social Security going is to either raise taxes to an unsustainable level or to keep adding vast amounts of new payers into the system. That would require a new Baby Boom and/or a big increase in immigration. Ignoring the truth of demographics and mathematics won't make it go away - it just postpones any attempt at finding.

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