The progressive downward spiral, Eh GD? ~~~~~~~~~~~~~~~~~~~~ Cowan & Kessler: Undeterred by this undebatable [Social Security] solvency crisis, Sen. [Elizabeth] Warren [D-MA] wants to increase benefits to all seniors, including billionaires, and to pay for them by increasing taxes on working people ...and their employers. Her approach requires a $750 billion tax hike over the next 10 years that hits mostly Millennials and Gen Xers, plus another $750 billion tax on the businesses that employ them. -GD Even more reckless is the populists staunch refusal to address the coming Medicare crisis. In 2030, a typical couple reaching the eligibility age of 65 will have paid $180,000 in lifetime Medicare taxes but will get back $664,000 in benefits. Given that this disparity will be completely unaffordable, Sen. Warren and her acolytes are irresponsibly pushing off budget decisions that will guarantee huge benefit cuts and further tax hikes for Gen Xers and Millennials in a few decades.
Posted on: Tue, 03 Dec 2013 11:12:26 +0000