What should be done about income inequality? That basic question underlies the arguments hashed out in the supercommittee and promises to be a central issue in the presidential campaign. Supercommittee Democrats argue that income inequality has been increasing and can be at least partially reversed by higher tax rates on high earners. They refused … Read more
Politicians who are principled enough to point out the fraud of Social Security, referring to it as a lie and Ponzi scheme, are under siege. Acknowledgment of Social Security’s problems is not the same as calling for the abandonment of its recipients. Instead, it’s a call to take actions now, while there’s time to avert … Read more
Some of society’s most intractable problems come not from its failures but from its successes. Often you can’t get a good thing without paying a bad price. A prime example is our public old-age pension system, Social Security. It has been completely successful in wiping out poverty among the elderly. Old ladies no longer have … Read more
One of my earliest memories of revulsion against war came from seeing a photograph from the First World War when I was a teenager. It was nothing gory. Just a picture of a military officer, in an impressive uniform, talking to a puzzled and forlorn-looking old peasant woman with a cloth wrapped around her head. … Read more
The latest Social Security Trustees Report tells us that the program will be insolvent by the year 2037. The combined unfunded liability of Social Security and Medicare has reached nearly $107 trillion in today’s dollars. That is about seven times the size of the U.S. economy and 10 times the size of the national debt. … Read more
The Spectator just had this shitpile: “We’re going to have a public option,” Reid said. “It’s just a question of when.” Reid’s general comments reflected the same overall message to progressives that President Obama and House Speaker Nancy Pelosi delivered earlier today. It essentially boils down to: We’ve done a lot of stuff, but we … Read more
The Conservative Political Action Committee (CPAC) is holding its annual conference right now in Washington, D.C. and these comments by Libertarian Party Executive Director Wes Benedict caught my eye today: I’m sure we’ll hear an awful lot about “limited government” from the mouths of CPAC politicians over the next few days. If I had a … Read more