Forbes is carrying an editorial about European pension systems and how they’re underfunded and over-generous, that taxes and pension funding make it too expensive to employ people, etc. etc. The implication is that the US has it all right. Bullshit. Yes, tax burdens on employment are lower, for the employers, but they fall onto the employees instead, which is pretty close. And of course the big issue is not how generous the pension, or how early the retirement age is, or how much vacation you get, but whether it’s funded properly. In the US and in Europe, it’s a PAYG system: Pay As You Go. Meaning that the workers today pay for the retirees of today. And if there are more retirees than workers, then you have a structural problem, and that’s the problem that most of the developed world is having. Not just those [epithet] Europeans.
It’s jingoistic and misleading to imply otherwise.
Secretly Ironic 