When Will Politicians Admit That Social Security Is on a Collision Course with Math? | Brenton Smith
When you combine how little we talk about the program with how little we do about the broken mechanics, we have a program that is on autopilot. Every year the mechanics drive payouts higher. It collects more as wages rise and the cap on taxable wages increases.
Socialism is extremely in vogue. Opinion pieces which tell us to stop obsessing over socialism's past failures, and start to get excited about its future potential, have almost become a genre in its own right. But ultimately, the contemporary argument for socialism boils down to: "next time will be different because we say so."
Despite a booming economy and a record-low unemployment rate nationally, at least one state has been working overtime to ensure its work-capable food stamp recipients don't have to work. Current law requires non-elderly, able-bodied adults without dependent children to work or participate in work-related activities, such as education and job training programs, for at least 20 hours per week in exchange for food stamp benefits.
A reasonable and useful reading of Adam Smith's Wealth of Nations is to see it as a railing against the guilds and their control of the medieval economy, followed by an insistence that we must instead have a market economy, one with free entry into lines of work and production.
A move to territorial taxation for citizens would ensure that US citizens abroad have a wider range of choices and consider an eventual move back to America. By nixing an absurd and cumbersome system, policymakers can restore fairness and decency for citizens everywhere.