TigerintheNO

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Bicentennial quarter

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raise the minimum age to draw, raise the SS payroll tax cap.

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It is becoming conventional wisdom that the social security system, as currently constructed, will not be fully viable after the so-called baby boom generation starts to retire in about fifteen years. The most recent report by the social security trustees projected that the trust funds of the system will grow over approximately the next fifteen years. However, beginning in the year 2012, the annual expected costs of social security are projected to exceed annual earmarked tax receipts, and the consequent deficits are projected to deplete the trust funds by the year 2029.

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A primary cause of social security's funding imbalance stems from the fact that, until very recently, the payments into the social security trust accounts by the average employee, plus employer contributions and interest earned, were inadequate, at retirement, to fund the total of retirement benefits. This has started to change. Under the most recent revisions to the law, and presumably conservative economic and demographic assumptions, today's younger workers will be paying social security taxes over their working years that appear sufficient to fund their benefits during retirement. However, the huge unfunded liability for current retirees, as well as for much of the work force closer to retirement, leaves the system, as a whole, badly underfunded.

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Because of these cultural disparities, restaurant associations in Pennsylvania and Missouri are recommending that their members in host cities Philadelphia and Kansas City add service charges during all or part of the World Cup, which begins Thursday and runs through July 19. The guidance is not just a hedge against international travelers who might stiff a server but a precaution to avoid awkward and time-consuming discussions about American tipping customs, tableside chats that could slow down service during a potentially frantic period.

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It goes from 100% of benefits owed one quarter to 78% of benefits owed the next? Decreasing at massively decreasing rate all of sudden?

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