is a must-read piece which somehow I had missed before this morning's email from Reader Supported News.
Ezra takes words Lloyd Blankfein, CEO of Goldman Sachs, made to CBS, about raising the retirement age for Social Security. This is a common argument, usually offered by people who really do not themselves need Social Security, that since we now live longer than when the program was established, the age should be raised. People are now getting so many years more to get benefits from the program.
Ezra totally takes that apart. For example, he offers a chart on life expectancy for people retiring at age 65. Since 1977 those in the upper half of income have seen their life expectancy expand by six years, while those in the bottom half have gained only 1.3 years.
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