The world’s richest man – Mexican telecom tycoon Carlos Slim – doesn’t have to worry about his own retirement, but he wants the rest of the world to worry about theirs. Speaking to the newspaper El Universal, Slim called on developed nations around the world to raise their respective retirement ages to 70. Slim argued simply that people are living longer today – therefore they should be working longer too
Slim echoes what a lot of very wealthy people in the United States are arguing for – raising the eligibility age for Social Security from 65 to 70. That includes multi-millionaires like Congressman Paul Ryan, and billionaires like lobbyist Pete Peterson. But what these oligarchs don’t understand is they are the only ones living longer – the rest of America’s workers aren’t.
According to the Economic Policy Institute – the top 50% wealthiest Americans have seen their life expectancy go up dramatically from 79 years to more than 85 years. But the bottom 50% of Americans have only seen modest gains, with their life expectancy creeping up from 77.7 years to 79.6 years.
With the New Deal, the economic elite made a deal with working Americans that their basic needs would be met with a social safety net. But today – the elites are shredding that deal, and trying to bring feudalism back to America.