17 Aug 12
Originally posted by no1marauderwhat are you calling entitlements?
I was hoping for some substantive discussion of Stockman's proposals in the piece. I see 5 basic ones:
1) Large cuts in military spending;
2) Ending the Fed's super low interest rate policy;
3) Breaking up large banks;
4) Income based eligibility test for all entitlements;
5) a) Replacing the payroll tax with a b) national sales tax.
...[text shortened]... port 2 and 4 depending on the specifics and oppose 5(b). Any other reactions to the proposals?
17 Aug 12
Originally posted by Hugh GlassFrom Stockman:
what are you calling entitlements?
A true agenda to reform the welfare state would require a sweeping, income-based eligibility test, which would reduce or eliminate social insurance benefits for millions of affluent retirees. Without it, there is no math that can avoid giant tax increases or vast new borrowing. Yet the supposedly courageous Ryan plan would not cut one dime over the next decade from the $1.3 trillion-per-year cost of Social Security and Medicare.
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18 Aug 12
Originally posted by no1marauder"A true agenda to reform the welfare state would require a sweeping, income-based eligibility test, which would reduce or eliminate social insurance benefits for millions of affluent retirees."
From Stockman:
A true agenda to reform the welfare state would require a sweeping, income-based eligibility test, which would reduce or eliminate social insurance benefits for millions of affluent retirees. Without it, there is no math that can avoid giant tax increases or vast new borrowing. Yet the supposedly courageous Ryan plan would no ...[text shortened]... dime over the next decade from the $1.3 trillion-per-year cost of Social Security and Medicare.
I'm not sure what the definition of "wealthy" is in suggestion. Tax increases for the very wealthy should go up in any case - back to the 50-60s rate.
