As this article lays out, stop indexing SS retirement benefits to wage increases, above the rate of inflation.
That’s because, under current law, the Social Security benefits planned for future retirees will be higher than those paid out currently to today’s retirees. The initial value of each cohort’s benefits rises in line with average wages in the economy.
But a future government could instead save a ton of money simply by scrapping those expected rises. Instead, they could just freeze benefits at current levels — raising them in line with consumer prices, but no more.
This would have a huge effect on the Social Security budget. Romina Boccia, an analyst at the libertarian Cato Institute and an expert on the subject, describes it as “one of the most powerful changes Congress could adopt. It would almost entirely eliminate the unfunded liability.”
I take it as a given that “burdening” the “JCs” with a higher payroll tax is a non-starter.
It might call itself a think tank but it is a failed think tank.
Everything about supply-side economics backfired.
There is not one politician in American running on supply-side economics. It is not economics. It is garbage about tax cuts for wealthy people and a reduction in our industrial base because of mismanagement. Not to mention a massive trade deficit creator and budget deficit creator. It was idiotic and self centered.
That seems to be the foundation of a lot of what goes on: tell the target audience what it wants to hear. Certainly works for Fox Noise. If what you are saying does not align with facts, say you are using “alternate facts”.
No one here is going to state why suppy-side economics is a good idea. Yet any dopy idea those marketing firms can come up with some here are willing suckers.
Link please? Give us one name of an American in office who supports supply-side economics. You can not find one mention in the last ten years. Does not exist.
Give us a link. Or even a name. A single name. You can’t. It does not exist. They all ran away.
Why should I? I’m not the one who made the claim. Did you poll them all? I just want to be better informed. I have no interest in doing your research. You back your statements if you want to be believed.