MasterBlaster
Thinks s/he gets paid by the post
- Joined
- Jun 23, 2005
- Messages
- 4,391
Scott Burns says it again.
The Real Doomsday: Less Bang, More Whimper - Registered Investment Advisor
The Real Doomsday: Less Bang, More Whimper - Registered Investment Advisor
...when I go to McDonald’s, I compare my Social Security check with the pay of those who work there. As I have pointed out in other columns, the average monthly Social Security check is now $1,230. It is not subject to the employment tax and at age 65 you also get great health insurance for only $99.90 a month.
Workers at McDonald’s, which is hiring, earn about $8 an hour, pay the employment tax and, most often, don’t get health insurance. Just as some once asked how many cars $60 an hour workers in Detroit could expect to sell to $8 an hour workers in Peoria, we need to start worrying about whether millions of uninsured low wage workers will be capable of supporting the growing millions of well insured retirees who no longer work...