Earlier quoted context omitted.
No account for inflation? No account for the rising costs in healthcare, and diminishing returns on that "investment"? No account for the fact that 35 years ago the proportion of economic active people to retired ones was completely different? If you are going to dismiss a (very middle class, by social standards) dude, at least you should do a little bit more than hand-waving.
2% is real. The US has average around 3% for years now. And since I don't believe in the tendency of the rate of profit to fall I don't think assuming at least 2% is unreasonable. But let's say zero. Does anyone really think we'll lose the ability to care for the old? Here's the simple way to think about pensions/SS: we take about 4% of GDP and cut checks to old people. They buy food and pay their rent. Nobody starve…
As the ratio of earners to pensioners moves closer to 1:1, this % outlay is only going to get worse.
Am I trying to fool you?
[edited to remove pointless ad hominem]