I’d need more information to form an opinion than what’s in that article. Frankly, most retirement systems could be fairly described as a gimmick that reallocates money from the young to the old. You’d need a dynamic tax that could allow the system to persist for everyone if you wanted to seriously claim it’s a social safety net. In my opinion.
A quick Internet search for that phrase gives me: https://cbcny.org/advocacy/statement-new-york-city-fiscal-year-2027-executive-budget but I haven’t verified or vetted that source.
CBC postures itself as neutral and non partisan but is a completely right wing corporate think tank
Because CBC only cares about protecting their budget.
I’d need more information to form an opinion than what’s in that article. Frankly, most retirement systems could be fairly described as a gimmick that reallocates money from the young to the old. You’d need a dynamic tax that could allow the system to persist for everyone if you wanted to seriously claim it’s a social safety net. In my opinion.