He Who Pays The Bills Makes The Rules

Fox News, the bastion of modern neo-conservatism, is knee-deep in stupid:

Soft drinks have unfairly become the whipping boy of most anti-obesity campaigns. Maybe friends shouldn’t give friends Big Gulps, but to my knowledge, no one’s ever been forced to buy and drink one. People who want sweet drinks will find and consume them, . . . → Read More: He Who Pays The Bills Makes The Rules

Models and Assumptions

Here’s a waste of analysis:

A much better alternative is for the household to “buy” an annuity from Social Security. They can make this “purchase” by using their savings to pay current expenses and delaying claiming to get a higher monthly benefit at an older age. The savings used is the “price” and the . . . → Read More: Models and Assumptions

Liberalism’s Incoherence

David Cay Johnston complains:

The guarantee of landline telephone service at almost any address, a legal right many Americans may not even know they have, is quietly being legislated away in our U.S. state capitals.

AT&T and Verizon, the dominant telephone companies, want to end their 99-year-old universal service obligation known as “provider of . . . → Read More: Liberalism’s Incoherence

But Wait, There’s More

My earlier post on expanding safety net recipients has an addendum:

While the findings are not directly comparable because of differences in methodology, the new study suggests that the recent recession did not cause any significant increase in the share of benefits flowing to the poor, as might once have been expected.

The study . . . → Read More: But Wait, There’s More

More On The Ethics of Receiving Government Benefits

From Think Markets:

In addition Mr. Krugman cites evidence suggesting large percentages of Social Security and Medicare beneficiaries are confused about their use of these government programs. They don’t seem to think they’re getting handouts.

Maybe that’s because they’re in fact not getting handouts. As they were reminded every time they looked at their . . . → Read More: More On The Ethics of Receiving Government Benefits

Chuck Moulton: Open Letter to Gary Johnson on the "Fair" Tax

I’m not going to post the whole letter here — you can read it at Independent Political Report. And you should. As a teaser, here’s the opening:

Main libertarian objections to the Fair Tax: 1. The prebate would start a new welfare entitlement. 2. The transition would redistribute from savers to borrowers. 3. There . . . → Read More: Chuck Moulton: Open Letter to Gary Johnson on the “Fair” Tax

Paragraphs to Ponder

From Walter E. Williams:

I believe that a person who is 65 years old and has been forced into Social Security is owed something. But the question is, Who owes it to him? Congress has spent every penny of his Social Security “contribution.” Young workers have no obligation to be fleeced in order to . . . → Read More: A Social Security Fix

You Can Always Count On Politicians

To lie, that is:

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.

“I cannot guarantee that those checks go out on August 3rd if we . . . → Read More: You Can Always Count On Politicians

Bush Tax Cuts and Economic Growth

In 2001 and 2003, former U.S president George W. Bush signed Economic Growth and Tax Relief Act (EGTRAA) and Jobs and Growth Tax Relief Reconciliation Act (JGTRAA). EGTRAA reduced personal income tax rates, increased child tax credit, decreased estate tax and introduced a various range of tax-favored retirement savings plans. In 2003 when EGTRAA . . . → Read More: Bush Tax Cuts and Economic Growth

National Income Decline: Time to Put Your Kids to Work?

The fact is that Social Security is seemingly doomed, as, for the first time, this year more money will be paid out to beneficiaries than will be collected from workers.

I am trying not to laugh as I tell you this, but a lot of people are idiotically-unaware that this is a lot of . . . → Read More: National Income Decline: Time to Put Your Kids to Work?