The whole thing is a money quote but:
http://www.slate.com/blogs/blogs/sc...ill-decide-when-it-s-time-for-you-to-die.aspx
This is on the heels of Brook's other column, "Everyone must sacrifice but rich people should keep 99% of their tax breaks".
What will separate the US from a third world country in Brooks's future?
The lack of tropical weather?
http://www.slate.com/blogs/blogs/sc...ill-decide-when-it-s-time-for-you-to-die.aspx
Originally, it was based on an agreement between workers and their employers: in exchange for a worker's time and effort during the economically productive part of his or her life, an employer would help fund and administer a pension, to supply money in the future, in the worker's later years, when he or she had become an ex-worker. In addition, the government would provide a share of income and medical benefits.
But now employers have largely gotten out of the pension business, because paying funds to ex-workers does not appear to be a particularly productive or efficient use of corporate money—especially since long-term, stable employment is also being abandoned in the name of efficiency. Nobody even pretends to owe anybody anything, on the business side, anymore.
So the pension money has been extracted from the system and spent on other things. For a while, the housing bubble was going to be another supply of money for old people, so they could cash out the "investment" they'd made in their homes and move into assisted-living condos or something of the kind. That's not going so well.
This is on the heels of Brook's other column, "Everyone must sacrifice but rich people should keep 99% of their tax breaks".
What will separate the US from a third world country in Brooks's future?
The lack of tropical weather?