Tag: Social Security

Piketty’s Capital: IV »

I’ve made some observations about Thomas Piketty’s Capital in the Twenty-First Century already, here, here, and here, and in this post want to note the way that the twentieth-century welfare state has contributed to the inequality that Piketty has observed. Piketty observes that growing inequality is the result of the return on capital being...
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New Video with Ron Paul: “Defining Liberty: The Future of Freedom” »

How can Americans overcome record government spending and debt, escalating healthcare costs, intrusive federal surveillance, endless wars, ongoing economic malaise, high unemployment, failing schools, and increasing abuses of civil and economic liberties? In this superb, new video from the recent, sold-out event sponsored by The Independent Institute and The Smith Center for Private Enterprise...
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Let’s Start a Tax Revolt with Our iPhones »

Tax Day is upon us and at the federal level we’re told that Washington spends $3.5 trillion a year. The annual federal deficit stands at $514 billion. The national debt has climbed to $17.6 trillion. All of these numbers are staggering, and that’s the problem. Few people can relate to such large numbers because...
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The Coming U.S. Government Default? »

Social Security, Medicare, and the federal component of Medicaid are easily the leading sources of the U.S. government’s worsening fiscal nightmare. By 2037, the ongoing growth in spending for these programs will have pushed up total federal spending to 35.7 percent of GDP, according to the Congressional Budget Office. This share is about 75...
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Intergenerational Transfers and Political Support for the Welfare State »

Supporters of the welfare state might see it as a mechanism for transferring income from rich to poor with the idea of helping those at the bottom end of the income distribution, but in the United States, the welfare state is increasingly transferring income from the young to the old, regardless of the wealth...
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New Year’s Revolution »

Millennials, already disproportionately suffering under the enduring Great Recession, likely have a bleak 2014 in store. Millennials suffer unemployment rates 50% higher than their elders. When you add in those working part-time while looking for full-time work, that already-high figure doubles. And half of last year’s college graduates work in jobs that don’t require...
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New Book Exposes the ‘Terrible 10′ Worst U.S. Economic Policy Mistakes »

Despite enjoying impressive economic growth over the past century, Americans have also been the victims of scores of stupid government mistakes that have made them poorer. For many the blunders led only to temporary setbacks, but for others the errors created life-altering disasters from which they never recovered. In the new book The Terrible...
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U.S. Healthcare Spending: Out of Control »

At last count, the United States was spending more than $8,000 a year on healthcare for every man, woman, and child in the country. That’s more than $24,000 for a family of three, and it represents almost one-fifth of all consumption spending. Is it necessary to spend this much? If not, why are we...
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How Much Do We Spend on Healthcare? »

At last count, the United States was spending more than $8,000 a year on healthcare for every man, woman, and child in the country. That’s more than $24,000 for a family of three, and it represents almost one-fifth of all consumption spending. Is it necessary to spend this much? If not, why are we doing...
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Supreme Court Rules: Social Security is NOT a Binding Contract »

This post was prompted by all-too-common opinions expressed in Randall Holcombe’s recent “Federal Government Debt Undermines the Programs It Finances” blog. The respondents passionately insist that Social Security is a contract, whatever you do to the budget, do not touch Social Security. “I paid in and it is a contract. They owe me.” The...
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