A recent article by MONEY NEWS points out that More than half of workers and over 60 percent of low-income workers, may not be able to maintain their living standards after they stop working.
The reasons are multiple. Investments in stocks and mutual funds are bringing lower yields than before. Inflation is eroding whatever financial gains are available through senior investments. Union pensions are in imminent danger of being reduced, particularly in government sectors, (state and national). ObamaCare costs are soaring beyond even the most dire of predictions before the bill was passed. Obama wants to place a cap on the amount of tax-free money that can be invested for retirement. ObamaCare places more restrictive coverages on healthcare costs the older you get. And, of course, there will be the tax on inheritances; that's money that was already taxed once as it was earned.
My advice to seniors is this: Get on the Tea Party bandwagon and raise holy hell with these bastards; we have nothing to lose and everything to gain.
That's MY AMERICAN OPINION, respectfully submitted.
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