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Rich countries have a $78 trillion pension problem

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WEB Notes: Not only do the governments of the world take far more than their fair share of our money through taxation, they take it through social programs like these. Even though most of us will never see a dime of it. We pay taxes essentially when they inflate our currency. We pay taxes at the gas pump, in the grocery store and the best of all… You pay taxes on the used car/home you bought even though taxes were paid for it when it was new. That home you think you own, stop paying property taxes and see how long you own it. All of these things have caused an enormous burden on people and will no doubt make it tough to retire.

Dreams of lengthy cruises and beach life may be just that, with 20 of the world’s biggest countries facing a pension shortfall worth $78 trillion, Citi said in a report sent on Wednesday.

“Social security systems, national pension plans, private sector pensions, and individual retirement accounts are unfunded or underfunded across the globe,” pensions and insurance analysts at the bank said in the report.

Source: Rich countries have a $78 trillion pension problem – Yahoo Finance



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4 Comments

  1. Very fitting song. Thanks eye on God

  2. So true!! I have been telling people for years, that the American dream is a joke when it comes to owning your own home and the property it sits on. I tell them the same thing you mentioned in your web notes. That try not paying your taxes on your home, and see how you truly own it. I think the the only things we truly own is the clothes on our back. We don’t have to continue paying anything to have them in our possession. I think in a way, the same could be said for our vehicles. Try not paying registration fees each year. We get stopped and fined for it. We then can’t drive it anymore unless we pay it. Or risk getting stopped again and again until then you lose your license. What really is sad, is taxes go up on your property and the payments increase. But our wedges do not. Then if you can’t afford the new payment and are late, they slap on a late fee. If a person cannot afford the payment, what makes them think they can afford the late fee that’s slapped on there? The system is set up for us to fail in many aspects. Come Lord Jesus come, it’s time to go Rambo with your rod of iron on this crooked world!

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