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The true state of the elderly
How well-off are the elderly? The answer is crucial to public debate about Social Security, Medicare and other programs to help older Americans. If most live on the edge, then cuts are hard to justify. On the other hand, if many elderly are financially comfortable, then their government benefits and taxes should be open to change – just like other Americans’. For years, we’ve been told that low incomes make most elderly vulnerable. The reality is that this describes only a minority of the very poor and very old, often single women. Read more…
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