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.