Tax Policy

Social Security will be solvent until 2038. (Social Security Adminstration, Summary of 2012 Annual Reports). Social Security is completely funded by the Social Security Tax and the payouts add nothing to the deficit. Reducing Social Security benefits will not reduce the Federal deficit one cent. Social Security benefits are fully funded until 2038. However, there […]

President Roosevelt created the Social Security Administration in 1935. President Johnson created Medicare in 1965. President Obama passed the Affordable Care Act in 2010. People say “Medicare and Social Security are broken. They need to be fixed.” Some say they should be eliminated, or turned into voucher programs. What are the facts? What does “Broken” […]

The same way that they filibustered the The American Jobs Act of 2011, Senate Republicans filibustered the Veterans Jobs Corps Act of 2012. According to the Examiner, here, the proposal failed 58-40, with most Republicans voting against it. Sixty votes were needed to overcome the procedural hurdle and push the bill toward final passage. Five […]

“Taxes are the price we pay for civilization.” – Oliver Wendell Holmes. Progressive tax structures are not about punishing the rich. They are a recognition that wealthy people – like everyone else – derive benefits from being in society. Warren Buffett, Steve Jobs, Bill Gates, Michael Jordan, Oprah, for example, got rich because people buy […]

“Taxes are the price we pay for civilization.” – Oliver Wendell Holmes. Progressive tax structures are not about punishing the rich. They are a recognition that wealthy people derive benefits from being in society. Warren Buffett, Steve Jobs, Bill Gates, Michael Jordan, Oprah, for example, got rich because people buy their products or watched them […]

_ Tweet  I spoke with two of the Wall Street protesters this morning. We discussed credit unions, other cooperative ventures, Buckminster Fuller’s ideas, capitalism, and productivity. (“A 4-day work week,” Fuller was quoted as saying, “would give us time to enjoy the wealth we create.”)  We didn’t talk about Warren Buffett or President Obama, but […]

  Tweet On the campaign trail in Iowa, Mitt Romney said, “Corporations are people.” (NY Times, Washington Post) An argument can be made that Mr. Romney meant that corporations are composed of people, that they magnify the abilities of individuals. However, Ayn Rand might suggest that the candidate made a collectivist statement. Mr. Romney could […]

Tweet The Washington Post reported, here, that John Boehner, Eric Cantor, Paul Ryan, and the “Young Guns,” their Republican comrades in the House of Representatives, PLANNED as far back as January, 2009 to use the debt ceiling to create a political crisis. It seems to have worked. The Republicans held fast, Obama and the Democrats […]

“Taxes are the price we pay for civilization.” – Oliver Wendell Holmes. Tweet Taxes fund Medicare and Medicaid so the poor and the elderly can see a physician and get treatment when they are sick. Taxes fund education for our children and our neighbors children so they can grow up to be doctors, lawyers, engineers, […]

Tweet The battle raging today between Democrats and Republicans will not solve  the nation’s debt problems, nor avert a financial catastrophe in the future. The politicians do not appear to have a handle on a comprehensive solution to our financial woes. I’m not certain that I do, either, but I feel an obligation as a citizen […]

    Tweet A s they struggle to pay their bills, forced to work, the wealthy cope as only they can. By sending their children to summer camp in private jets. In  “To Reach Simple Life of Summer Camp, Lining Up for Private Jets” Christine Haughney, in the New York Times,  July 24, 2011, wrote: […]

To paraphrase John Kennedy, “Ich bin ein Keynesian.” Jude Wanniski coined the term “Supply Side Economics” in 1976 as a reaction to  Keynesian and monetarist thought. In his book, The Way The World Works, Wanniski argues against taxes. “Working together three men can build three houses in three months. Working separately, they can build three […]