The Pension Hole for U.S. Cities and States Is the Size of Japan’s Economy
Overal taxation in the U.S. is low compared to other OECD countries [1].  We, as a nation, decided that low taxes was the goal.  As a result infrastructure is poor, toll roads are increasing, privatization of prisons, intelligence gathering, war, etc. are rising too.  Yet Americans falsely believe they are overtaxed.  The situation is easy to fix in economic terms but not in political terms.  The road to an Ayn Randian paradise in which everyone fends for themselves will lead us to ruin.<p>Corporations have largely shunted the responsibility for retirement savings onto individual workers. Now said workers have no pensions and have uncertain retirements.  Instead of asking why they have no pensions they seek to equalize status by falsely believing we can&#x27;t afford any sort of pension.<p>As a nation we need to seriously rethink the role and purpose of government and how taxation is a part of the proper functioning of government.<p>[1] <a href="https:&#x2F;&#x2F;www.taxpolicycenter.org&#x2F;briefing-book&#x2F;how-do-us-taxes-compare-internationally" rel="nofollow">https:&#x2F;&#x2F;www.taxpolicycenter.org&#x2F;briefing-book&#x2F;how-do-us-taxe...</a>