Retirements cannot lengthen indefinitely without massive gains to productivity, or increases in the supply of younger workers; the math doesn't work.
Why do I doubt the veracity of this statement? Maybe because hell will freeze over before McArdle posts links or data to back up her statements.
You doubt that she has done the math? What reason could you have for that?
The only thing that surprises me is that Megan doesn't unironically throw around the phrase "lucky duckies."
Define "massive." (Concomitantly, discuss the effect of the cap on tax levels.)
Btw, McMegan almost tries to kinda sorta sound as if she's spoken to someone from CATO today, at least for a paragraph or two. See here.
Retirements cannot lengthen indefinitely without massive gains to productivity,Of course, we have had massive gains to productivity. Curiously, those gains only led to rising incomes for the top few percent, all of whom hit the FICA cap early in the year, then don't contribute.
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