Tax and Spend

NASA's propaganda missions to Mars keep producing news about supposed water. That and a dollar will buy you a McCafe.

Detroit can't avoid going bankrupt. Neither can any other American government.

Governments always prey more aggressively toward the end.

Why Social Security was doomed from the start.

"Accordingly, social insurance co-opts all potential sources of political opposition, making it inherently a fiscal doomsday machine. It was only a matter of time, for example, before its giant recipient populations would capture control of benefit policy in both parties, and most especially co-opt the conservative fiscal opposition. "

Liberals knew this when they passed it. This was intended as a step on the road to communism.

"Accordingly, Federal and state payroll taxes for social insurance generate $1.2 trillion per year in revenue—four times more than the corporate income tax. So with the highest labor costs in the world, the U.S now imposes punishing levies on payrolls. It thus remains hostage to a political happen-stance—that is, the destructive bargain struck eight decades ago when high tariff walls, not containerships loaded with cheap goods made from cheap foreign labor, surrounded it harbors. "

 And people wonder why jobs are going overseas.

"Yet there is more and it is worse. The current punishing payroll tax is actually way too low—that is, it drastically underfunds future benefits owing to positively fictional rates of economic growth assumed in the 75-year actuarial projections. As a result, the benefit structure grinds forward on automatic pilot facing no political opposition whatsoever. In the meanwhile, the fast approaching day or reckoning is thinly disguised by trust fund accounting fictions. "

This is what everybody gets wrong. The liberals have already solved this problem. The day of reckoning will be avoided by government blocking health care for seniors so they won't live as long.