Tuesday, July 20, 2010
Killing zombie lies and exploding the Social Security myths
digby wrote about Killing zombie lies and exploding the Social Security myths "The assignment is this and this post by Susan G at Daily Kos about Social Security myths. The first is this one about life expectancy, which is something that has driven me crazy for years. Mush of the literature about 'problems' with social security will tell you that longer life expectancy was unanticipated by the people who designed the system, which is ridiculous. They certainly did. And they will also tell you that life expectancy was only 63 at the time social security was designed, which is true, but they neglect to explain that life expectancy in those days was was shorter mostly because of childhood diseases, which means that the financing ratios were never affected. After all, kids who die at 3 never pay FICA in the first place. "