Something I neglected to properly slag on in the column linked below: I referenced in that piece an Economic Policy Institute brief purporting to show how dependent we all are on Social Security by showing what a large percentage of the income of benificiaries it constituted. But, of course, you start getting Social Security when you retire, so incomes for recipients are necessarily from something other than wage labor. But, of course, people generally choose to retire after they’ve been able to save up some sort of nest egg—if they’re able to, anyway. That means lots of people are basically living of accumulated assets, not (primarily) income—which is, then, a big fat ugly red herring.
Retirees Have Low Incomes: Film at 11
May 4th, 2005 · 5 Comments