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Dear
Editor, I
have enjoyed reading Gary Endelman's recent articles,
usually on the Siskind law firm's web site. But one important detail that Mr. Endelman has not yet raised
is the overall aging of the US population.
A mid-March issue of US News & World Report
featured a cover story on how more Americans turn 40 this
year in history, or ever again on the basis of current
population projections. The US has a huge baby boomer
demographic bulge versus a more even distribution in Europe
(Canada in-between). That
means Europe presently has more seniors on the public
pension rolls at present, partly explaining their higher tax
load. After
2010, the US will have a larger fraction of seniors ... we
are already warned that while there are now 3+ workers
paying for each retiree, that ratio will drop down to 2:1.
Without replacement immigration, the US needs only
look to Japan for coming consequences: a rapidly aging
population, and even shrinking population as younger workers
bear visibly heavier burdens to support their elders'
generations. gld
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