Quote:"U.S. state and local governments will need to raise taxes by $1,398 per household every year for the next 30 years if they are to fully fund their pension systems, a study released on Wednesday said.
Rauh and Novy-Marx have previously stirred up the debate over state pension obligations, including the dire prediction that existing pension liabilities total around $3 trillion, if expected returns on investments are not counted.
Other studies have estimated the shortfall as far less. The Pew Center on the States, for example, found the pension shortfall for states could be $1.8 trillion, or as much as $2.4 trillion based on a 30-year Treasury bond."
// I'm sure raising the income tax will solve this. Certain.
Quote:"The final health-care costs for someone who dies at 100 are typically about one-third of the costs for someone who dies at 67, says Nir Barzilai, director of the Institute for Aging Research at Albert Einstein College of Medicine of Yeshiva University in New York. People who live so long tend to be healthier and more likely to die from a problem quickly, Dr. Barzilai says."
// That seems cosmically unfair to me.
Filed under: Uncategorized |