11/10/26

For decades, Europeans have been willingly handing over around half of their pay to the state for cradle-to-the-grave benefits. Then, when they reach their 60s, they expect to retire relatively comfortably, at least by their standards, on a state-funded pension. Now, stretched public finances and a rapidly aging population are threatening this socialist arrangement deal hence the protests and riots overseas. The welfare state that socialist politicians promise voters here will suffer the same fate. It is an unsustainable model no matter how many billionaires you tax.