After that, the principal from the fund will cover Social


Canada Goose online When Social Security Meets Immortality Canada Goose online

canadian goose jacket Here we go again another article canada goose outlet hong kong (New York Times, April 4, 2011) bashing seniors with the accusation that Social Security is bringing down the economy. And what’s the answer? «To Cut the Deficit, Look to Social Security.» Not only are the premise and conclusion flat out wrong, they distract from identifying the true major sources of our massive deficit military appropriations and spending for our war follies, the welfare handouts to recklessly mismanaged corporations, and the relentless concessions to the rich. canadian goose jacket

canada goose store But the «who dunnit» search for perpetrators of the deficit is about to be overshadowed as predictions of huge gains in life expectancy move from science fiction to reality. canada goose store

Canada Goose sale First, let’s examine the current so called «crisis» with Social Security and then look at how the next wave in the longevity revolution will dramatically shift the focus to broader societal concerns. Canada Goose sale

canada goose black friday sale Since the inception of Social Security in 1935 (monthly payments began in 1940), the Social Security payroll tax has funded payouts, and at the same time has accumulated a canada goose outlet london uk surplus currently totaling $2.6 trillion which comprises the Social Security Trust Fund. According to the fund’s trustees, any shortfalls canada goose outlet las vegas in the dedicated Social Security Payroll Tax will be covered by the interest on the $2.6 trillion Trust Fund assets until 2024. After that, the principal from the fund will cover Social Security payments until 2037. When the fund canada goose factory outlet toronto location is depleted, the Social Security payroll tax will still provide 75 percent of promised payouts. canada goose black friday sale

canada goose coats on sale Clearly, there is no immediate problem with Social Security, and canada goose outlet eu it should not be included in the roundup of suspects for our debt crisis. Add to this the fact that our government has borrowed the Trust Fund’s assets to run day to day operations and at relatively low interest rates set by the government. Far from contributing to debt, Social canada goose outlet orlando Security has reduced debt. government had to raise $2.6 trillion in the canada goose factory outlet vancouver open market, interest rates would likely canada goose outlet store quebec soar. canada goose coats on sale

canada goose coats That’s why I was surprised that the recent New York canada goose outlet black friday Times article by Alicia Munnell not only erroneously indicted Social Security for contributing to the national debt crisis (Social Security accounted for only 4.8 percent of GDP in 2009 and is projected to grow to 6.1 percent in 2035). It also failed even to mention the Social Security Trust Fund. That’s like saying, «My elderly Aunt Mary’s income has fallen this year so she will have to severely cut back on her lifestyle, or borrow from family members to get by» while neglecting to note that Aunt Mary has a $10 million trust fund that she can draw on to maintain her modest life style. canada goose coats

cheap Canada Goose One simple legislative stroke would end any near future «crisis» with Social Security a solution that conservative commentators and legislators conveniently ignore. Just canada goose outlet ontario eliminate the income limit for the Social Security payroll tax and goodbye Social Security crisis. For 2010 canada goose outlet boston the Social Security payroll tax for employees was 6.2 percent for income up to $106,800. Therefore, someone who earned $10 million paid Social Security tax on only 1 canada goose outlet in canada percent of income, while a worker earning $106,800 or less paid Social Security tax on 100 percent of income. What is the rational or moral basis for this discrepancy? cheap Canada Goose

Canada Goose Parka That being said, the ever increasing gains in canada goose outlet in vancouver average life span present critical issues that go far beyond entitlements and impact all age groups. Some scientists predict extraordinary leaps in longevity over the stunning fifty percent increase achieved in the last century. One hundred year life spans are already commonplace. Canada Goose Parka

canada goose deals British aging researcher Aubrey de Grey confidently predicts that breakthroughs in the biology of aging will deliver immortality or at least 1000 year lifespans in the coming decades. Famed cellular biologist Leonard Hayflick (known for the «Hayflick limit» of 120 years), whom I’ve interviewed a number of times, disagrees. He foresees canada goose outlet england modest gains that will enable more people to live to the limit of 120 years through canada goose outlet belgium disease prevention and cures for the three leading causes of death: cardio vascular disease, cancer, and stroke. Whether life extension will expand by canada goose outlet online uk tens, hundreds, or thousands of years, there is no ignoring the experts’ widespread consensus canada goose outlet location that significant breakthroughs will occur. canada goose deals

buy canada goose jacket cheap We are just at the beginning of what has been tagged, «the golden age of biology.» And surely some canada goose parka outlet of the four hundred laboratories around the world working on life extension will meet with a degree of success. Dr. Leonard Gurarente’s laboratory at MIT has already produced some impressive findings. And inventor/futurist Ray Kurzweil, featured with Aubrey de Grey in the Feb. 10th issue of Time Magazine, believes that quantum leaps in the development of artificial intelligence will fuel discoveries that will make de Grey’s prediction a reality, possibly beginning as soon as the mid 2020s. Keep in mind that mapping the human genome, once thought impossible, was accomplished two years earlier than projected. Science is speeding up, not slowing down. So watch out! buy canada goose jacket cheap

canada goose clearance sale While Aubrey de Grey’s pronouncement canada goose outlet woodbury may be welcome news, the prospect canada goose outlet of vastly extended life spans poses one of the greatest challenges to civilization since humans first appeared on earth. Communities throughout history have always been dominated by the young until recently relatively few people lived to ripe old ages. In fact, through 99 percent of the time that humans have walked this planet life expectancy has been less than twenty years of age. canada goose clearance sale

canada goose We might smile at Aubrey de Grey’s exuberance, but life extension canada goose outlet mall is not a laughing matter. We should think hard canada goose outlet store toronto about it and initiate genuine planning. Breakthroughs in the genetics of aging will happen. And when they do, they will shake up everything in the way we live, work, love, and play on this planet. canada goose

Canada Goose Jackets For example, if you think jobs, social services and safety nets are in crisis now, how will we deal with the economic fallout of vastly extended lifespans? And what about social issues like, «Hi honey, I’m home for the next canada goose outlet store uk hundred years (thousand years?)!» Will people even choose to have children if they have to preserve resources for lengthy indeterminate lifespans? Leaps in longevity will impact every domain: economic, political, and social. To ignore the speeding train of longevity and all its repercussions places us at great peril. Canada Goose Jackets

canada goose clearance When we finally wake up and grasp the implications of more and more men and women living significantly beyond one hundred years, the longevity revolution will trump all other issues. We should not idly wait for that wakeup call canada goose clearance.

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