Armstrong Economics- French Pensioners Earn More than Working Adults
France has one of the highest replacement rate packages of any OECD nation at around 74% of average earnings. The French government spends an astounding 14% of GDP on the unsustainable pension system.
It turns out that when another rather large country not even on France’s continent pays for most of their defense costs, and allows France decades of tariffs on that same country’s goods, as well as applying long term digital service taxes to that same country on top of the previous, you have some extra cash left over to make your retirement program pretty posh.
Not sustainable, but posh nonetheless.
“This is why politicians want war with Russia as a diversion.”
Is the US Social Security system in better shape?
https://www.ml.com/articles/can-social-security-insolvency-be-fixed.html
“As baby boomers continue to retire, Social Security payouts are increasing a lot faster than contributions, In 2022 alone, the system posted a $22.1 billion deficit.”
What happens if the fund becomes insolvent?
A: That’s not fully clear, Suri notes. “Insolvency means that the trust fund is unable to pay benefits in full and on time. It does not mean that Social Security will be completely eliminated and unable to pay any benefits.” But future benefits could only be paid from taxes collected, which would cover roughly 80% of benefits.
None of the above is news. It’s been known for decades. It’s also one of the reasons Canuckistan is importing millions of “immigrants”. Only issue is, far too many of them end up on social services and merely end up compounding the issue.
In Canada, only retired government bureaucrats
earncollect more than working adults, of course that is 40% of people in this socialist, kleptocratic shithole.” French Pensioners Earn More than Working Adults”.
Earn? Earn? What the F*** are they gibbering about?
The earn nothing, they steal everything they get.