In previous years, the 2015 Social Security and Medicare Trustees Reports were usually released in the spring, albeit on a Friday or perhaps around a holiday when little attention would be paid. This year, the reports were released yesterday, months later than usual, with little fanfare, except for a few media outlets praising the findings. The Huffington Post […]
Tag: "Social Security"
Because the news in them is not that great. Consider: Social Security (OASDI). Total unfunded liabilities into the infinite horizon are $24.9 trillion. (To learn more about unfunded liabilities, read the NCPA piece by Laurence Kotlikoff.) This includes Social Security, Supplemental Security and Disability. Including the “trust fund” as a liability (and it is since it […]
The NCPA has written numerous publications on the unfunded liabilities of Social Security and possible reforms. We have also addressed unfunded liabilities of state and local public pensions. But one of my readers alerted me to her infographic that quite nicely sums up the Social Security and states’ pension crises, for those with no time […]
In yesterday’s Dallas Morning News, financial columnist Scott Burns discussed the hard-hitting Social Security benefits tax. Using Turbo-Tax, he demonstrates how middle-income seniors (those earning $41,343 to $77,343) are hit by the tax. Since the income thresholds are not adjusted for inflation, but Social Security benefits are, more seniors will have pay the tax as […]
Two years ago, in the midst of the previous debt ceiling crisis, President Obama told worried beneficiaries that he could not guarantee that Social Security benefit checks would be paid. Fast forward to this week…here we go again. A Social Security Administration official warns that benefits could be cut if a debt ceiling agreement is not […]
The conventional wisdom of playing if safe in the bond market may not be good for retirees after all, says the New York Times. The 4 percent annual withdrawal rule may also be out of date, according to the Pittsburgh Post-Gazette.
Government is very good at crowding out private sector activities. When government borrows, it can cause interest rates to rise and crowd out more productive private sector borrowing. When government expands welfare programs to help the hungry and homeless, the effect is the crowding out of individual giving to more efficient private-sector programs. And decades […]
cheap cad software p>As I skimmed through a copy of the president’s 2014 budget, which by the way, is chock full of fluffy spending at the expense of the taxpayer, I caught site of an interesting proposal regarding retirement accounts. Let me back up a bit and rephrase myself — I caught sight of a “hair-brained […]
best antivirus software for mac p>In light of all of the worrying about sequestration, entitlement reform – of course – goes undiscussed. While trimming around the edges of discretionary spending has sent people into a panic, the $100 billion in cuts are a drop in the bucket compared to the growing expenditures of the mandatory spending programs […]
Social Security and Medicare are grand Ponzi schemes that make Bernie Madoff’s operations look like petty theft. They discriminate against black males especially because they pay into the system on every job they have, but many die of health problems and violence long before they collect a dime in benefits. Middle and higher income Americans […]