Once again a Government takes the wrong path to a resolution.
http://www.bbc.co.uk/news/world-europe-11633178
Increasing the retirement age will increase unemployment as the older citizens affected by it will hang on to their jobs longer. Thus, there's an increase in unemployment as the younger citizens are entering the job market. The benefit is only a temporary blip for two years while taxes are collected and not paid out for two years. After that, they're back in the same boat again. Then, they'll be talking about increasing the retirement age again just like they are here in the U.S. It's only a short-term solution that only moves the problem into the future.
What they (and all Governments) need to do is eliminate the "nice to have's" they could afford during a booming economy but can't afford during a failing economy. That's similar to families cutting back on vacations, movies, and name brand foods when things get tough. When things get better they can enjoy the "nice to have's" again.
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