Elderly Face Future Near Poverty Line

On By southwerkIn business ethics, Capitalism, ethics

From MSNBC –

Nearly half of elderly Americans will face a future with at least one year below or close to the poverty line, according to a new study that showed a huge racial divide in prospects for the elderly.

Mark R. Rank, a professor at Washington University in St. Louis, said the results of his research contradict popular beliefs about the economic stability of America’s elderly population.

“We have an image of the elderly as doing pretty well,” he said, adding that data spanning 35 years does not support that assumption.

Nobody is safe. Nobody is secure. We face an economic future in which those that have created value, those that have worked for a living, are just pawns in a game of financial monopoly.

James Pilant

One thought on “Elderly Face Future Near Poverty Line”

  1. andrew's avatar andrew

    The elderly in this country is a demographic that I have a lot of sympathy for. They were told all of their working lives by the government that if they worked hard and paid into Social Security, that they would be taken care of in retirement. That generation had no way of knowing that the government was shafting them with a program that is unsustainable in its entirety. But hey, it got FDR political brownie points, so what does it matter if it is ACTUALLY good for the country, right?

    The game that we play in this country is starting to reveal its flaws and come apart at the seams. I often wonder what our country is going to be like when everything comes full tilt?

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