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Essay text:
The 76
million persons born in 1946 through 1964 are making up the boom era.
In 2008 baby boomers will be reaching 62 years in age. The cost of
Social Security will increase much faster than income tax due to the
population of persons 65 and older will grow faster than that of the working
aged population. The baby boom generation and life expectancy
increasing will contribute to an aging population. When Social Security began
life expectancy at age 65 was 12 and one half years. Today that number
has grown to seventeen and one half years, and by 2030 it is expected to
reach 19 years. Beneficiaries will continue to grow while tax rates
remain the same...
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