In light of the current Washington debate over extending the payroll tax cut for another year (or more?), I thought it would be a good time to look at the program payroll taxes fund: Social Security. Here are a few scary charts from the fantastic Kleiner Perkins’ USA Inc. analysis:
1. Time is not on the side of Social Security
2. Neither are demographics. We are getting older.
3. This is really the awful math of Social Security.
4. Yet the program has become more generous.
5. Each worker today has a much heavier burden.