Only 1.75 Full-Time Private Sector Workers Per Social Security Recipient

This is one side effect of so many people dropping out of the labor force. Anyone have an idea how high Social Security taxes have to be if there are only 1.75 private sector full-time workers paying taxes for every person getting benefits? The problem is that a lot more people are going to be retiring soon. This also provides some background for Obama's chosen method of cutting taxes. From CNSnews.com:

There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security board of trustees.

That means that for each husband and wife who worked full-time in the private sector last year there was a Social Security recipient somewhere in the country taking benefits from the federal government. . . .

Gov. Rick Perry might be on to something in calling Social Security a “Ponzi scheme.”

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