Friday , December 13 2019
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Tag Archives: Social Security

Will Social Security Be There for You? Status of the Social Security Trust Fund in Fiscal 2019

“Don’t rely on Social Security”: Inflation adjustments are punitively low, and benefits become more inadequate as you age. The  Old-Age and Survivors Insurance (OASI) Trust Fund – which does not include the Disability Insurance (DI) Trust Fund – closed the fiscal year 2019 at the end of September with a balance of $2.80 trillion, according to figures released by the Social Security Administration. This balance was up by $3 billion from September last year, but was down $16 billion from...

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Alex Nowrasteh highly recommends Azar Gat’s book Nations: The Long History and Deep Roots of Political Ethnicity and Nationalism. A slice from Alex’s post: Fortunately, recent scholars have put forward new definitions of nationalism. Yoram Hazony tries to define nationalism in his book The Virtue of Nationalism, but he produces a confused mishmash that boils down to (1) nationalism is a natural and ancient human ideology and (2) real nationalists are not responsible for anything bad like...

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Steve Davies describes what he believes is, today, not a collapse of democracy but realignment. In this short radio interview, my intrepid Mercatus Center colleague Veronique de Rugy discusses Elizabeth Warren’s scheme for Social Security. Jeff Jacoby wonders why there is no more clamor over the gargantuan and growing indebtedness of the U.S. government. A slice: For the first time since World War II, the government’s debt ($22.02 trillion) is bigger than America’s entire economy ($21.06...

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My intrepid Mercatus Center colleague Veronique de Rugy tells the harsh truth about Social Security. A slice: It looks even worse in the long run. The Social Security Board of Trustees reports that over the next 75 years, the program will be underfunded by $13.9 trillion. To make Social Security solvent over this period would require an immediate and permanent payroll tax increase (today) of 2.78 percent of overall wages — which raises the average Social Security payroll tax bite by 25...

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With the market already increasingly making parental leave routine, who needs government mandates from Congress? – Publications – AEI

AEI With the market already increasingly making parental leave routine, who needs government mandates from Congress? That’s the question Boston Globe columnist Jeff Jacoby asks in the title of his latest weekly op-ed, here’s a slice: It isn’t the job of the federal government to provide, mandate, or encourage paid leave for new parents, and there was a time when Republican politicians would have said so. That was long ago, when the GOP was still the party of fiscal sobriety...

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Jeffrey Tucker eloquently laments the frightening and destructive rise of economic nationalism. A slice: The US President believes that every nation with whom the US has a “trade deficit” owes “us” money and therefore the American people should be subjected to new taxes for buying from them. It’s no more complex than that, truly. And through this one silly confusion over the meaning and significance of a piece of reported data, however faulty, America, which in many ways led the world...

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Henderson on Furman and Summers

The negatives are many. They [Jason Furman and Larry Summers] claim that tax increases are savings; they assume that tax cuts and government spending increases are necessary to get us out of recessions; they assume that we are in an era of “secular stagnation,” that is, low growth; they claim that failure to increase spending on infrastructure, education, and scientific leadership is more of a burden on the next generations than the national debt is; and they think...

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My Mercatus Center colleague Chuck Blahous warns that the U.S. Social Security system is verging on insolvency. A slice: Throughout the past decade, those seeking the presidency have focused their rhetoric more on what they wouldn’t do to repair Social Security’s finances than on what they would. Congress isn’t doing much better. Instead of charting a realistic path forward, every congressional Social Security proposal introduced this year would do one of two things: add a new parental...

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My intrepid Mercatus Center colleague Veronique de Rugy reports on a severe factual problem that is at the core of a new ‘conservative’ scheme to increase paid family. Here’s Mark Perry on the enormously high costs of Trump’s tariffs punitive taxes on Americans who purchase goods assembled abroad. Catherine Rampell is rightly critical of the Trump administration’s hypocrisy on matters of trade. Jeff Miron exposes an instance of domestic protectionism. Ilya Somin tells us what Elizabeth...

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Social Security and Medicare — Still Going Broke

Last year, the Social Security and Medicare trustees warned that the programs are going broke. A year later — they’re still going broke.Social Security will dip begin dipping into reserves in order to pay out benefits next year and those reserves will run dry in 2035, according to the annual Social Security and Medicare trustees report that was released Monday.When reserves dry up, the system will no longer be able to pay full benefits.Analysts project Social Security’s expenses will...

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