Work Longer, Die Sooner! America’s Dire Need to Expand Social Security & Medicare

Source: Institute For New Economic Thinking
by Lynn Parramore

“Shameful fact: the plight of U.S. retirees is a global exception. In their pursuit of lower taxes, America’s wealthiest individuals support policies that make it extremely difficult for seniors to manage the increasing costs of healthcare, housing, and basic necessities. Not so in other rich countries like Germany, France, and Canada, where robust public pensions and healthcare systems offer retirees stability and dignity. After a lifetime of hard work, older citizens in the U.S. find their reward is merely scraping by, as savings diminish under the weight of soaring medical costs in the most expensive healthcare system in the developed world. The solution from America’s elites? Suck it up and work longer. An example of this mindset appeared in a New York Times op-ed by C. Eugene Steuerle of the Urban-Brookings Tax Policy Center and Glenn Kramon, a Stanford Business School lecturer.” (05/15/24)