Quote:
Originally Posted by mheisig
How does paying for someone else's future retirement ensure that my grandkids can find a job 40 years from now?
I'm not being facetious, I honestly want to know.
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Too many Americans will fail to save enough for themselves. They'll then be forced to remain in the workforce until they're 80 or dead, which will take up more jobs, leaving fewer jobs for those under 65, resulting in much higher unemployment rates and much lower productivity and hence GDP. Not having some sort of organized retirement system would be a social and economic disaster.
From a philosophical standpoint, I'm 100% in agreement with you. But if there's no program to support the working poor in old age, they'll stay in the workforce longer and longer.