Earlier quoted context omitted.
So close! Pensions are actually property taken from the younger generation and given to retirees.
Those retirees have been paying into the pension system their whole life.
Another reason not to repeat their mistake.
Denmark to raise retirement age to 70
291–300 of 1001 posts
Re: Denmark to raise retirement age to 70
#292Earlier quoted context omitted.
Can also just raise taxes on the super rich
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The top 1% pay like 25% of all taxes. If we want to increase tax revenue 25%, we can just double the taxes on the top 1%. This might cause some of the top 1% to suffer the extreme suffering of being in the top 2%.
What part of the math am I not understanding?
Re: Denmark to raise retirement age to 70
#293This is because of their low birth rate primarily right? I think the system has failed at this point, when you are expected to work that long.
Maybe the system needs a rethink; an expectation that everyone able to will pretty much work their whole lives, but making work much less miserable and time-consuming so that's just fine.
Ha. Total pipedream. It is easier to imagine the end of the world than to imagine the end of our current economic system.
Re: Denmark to raise retirement age to 70
#294Earlier quoted context omitted.
A 99.9% wealth tax on US billionaires would cover the annual deficit for about 1.5 years. The scale of the problem is absolutely mind-blowing.
I’d say that “super rich” starts well below billionaires. Not saying that the math would work out without problems then.
My grandpa went to prison (in Romania) in the 1950-es for being part of bourgeoise class because he fixed and ran a broken mill. He was a war refugee (from Romania to Romania) without any money, land or any other resources, but in Communist Romania running a mill would tag you as "super rich". I guess this is what you wanted to say there, correct?
Re: Denmark to raise retirement age to 70
#295Where I live, people have issues getting hired past age 50, and it’s near impossible past age 60. It’s a stroke of luck if you score a job then. So yes they can raise retirement age, but that will just create misery for all those who can’t cling to a job long enough. There‘s got to be a better way.
Part of the reason employees are reticent to hire someone past 50 is before they worry they’ll retire soon, even if they’re mentally and physically in good shape. So increasing the retirement age might actually improve the ability of folks in their 50s to find work.
Not saying this is a great trend, but it’s unavoidable due to the low fertility rate (already a problem everywhere in the developed world and soon to be a problem the world over, as by 2050–before I retire—the global average total fertility rate will have dropped below replacement.).
Re: Denmark to raise retirement age to 70
#296[flagged]
> That’s what happens when nations like Denmark and Sweden with extensive social wellfare system, does not grow organically and instead allow people to invade their countries and let them use the system without giving anything back.
I am pretty sure that immigrants pay taxes.
Re: Denmark to raise retirement age to 70
#297Earlier quoted context omitted.
But people are living longer, in better health (I think but didn’t verify with data) and entering the workforce later (due to more secondary schooling). Setting aside the issues of declining birth rate for a minute, this seems like a reasonable adjustment to the other factors?
True but no matter how healthy one is in their 60s and 70s people's health degrade significantly in their 80s. So, you have then 10 year of healthy life after retirement. There's the flip side if the coin though: old people are healthier in Denmark (vs US for example [1]) due to the social welfare system. Well, that system needs to be funded. With the aging population, the costs are rising but contributions are (rela…
I think what's happening though is that current generations are taking it easier in a lot of ways as a result of having to work more. For example, avoiding senior promotions into management etc.
Re: Denmark to raise retirement age to 70
#298Where I live, people have issues getting hired past age 50, and it’s near impossible past age 60. It’s a stroke of luck if you score a job then. So yes they can raise retirement age, but that will just create misery for all those who can’t cling to a job long enough. There‘s got to be a better way.
Part of the reason employees are reticent to hire someone past 50 is before they worry they’ll retire soon, even if they’re mentally and physically in good shape. So increasing the retirement age might actually improve the ability of folks in their 50s to find work. Not saying this is a great trend, but it’s unavoidable due to the low fertility rate (already a problem everywhere in the developed world and soon to be…
We already have 15y to go here, at age 50. That’s WAY longer than the median occupancy.
Re: Denmark to raise retirement age to 70
#299Earlier quoted context omitted.
Wouldn't the fourth way be via increasing either birth rate or immigration?
No one knows how to increase the birth rate. And all the studies show that immigration increases the budget deficit, not reduces it (at least in that way in which it is being implemented now).
Everyone knows. Stop contraception, stop woman education, stop abortions, reduce woman rights to 1800. Remove children rights, make environment where children are productive and bring profits to their parents, so they have financial incentive to create children.
No one wants to implement it.
Re: Denmark to raise retirement age to 70
#300Denmark, 6 million wealthy people, 4% economic growth, 1.5% inflation, 2.9% unemployment, national debt of 25% of GDP and budget in surplus. How did it all go so right?
Sensible immigration policies