Tag Archives | Welfare

Obamacare’s Defenders Have No Idea What Insurance Is

The most telling reaction to Paul Ryan’s defense of the House GOP’s Obamacare replacement bill—I won’t call it a repeal, because it isn’t—is the way some mainstream media reporters seized on this section. Ryan: The whole idea of Obamacare is…the people who are healthy pay for the…sick. It’s not working, & that’s why it’s in […]

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Democratized Aristocracy

Voters in Switzerland just resoundingly defeated a referendum calling for a guaranteed minimum income, a check to be sent to every Swiss citizen every month for as much as 2,500 francs, or a little over $30,000 per year. That’s a solid lower-middle-class income—for doing nothing. There are two ways of looking at this news. We […]

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Nobody Cares About the Debt (But It Cares About Us)

In response to my speculation that we’re going to end up reforming Social Security by letting it break, several people told me—disapprovingly, which is good for them—that politicians will just fill the gap the way they always have, by borrowing more money. Well, here’s the thing about that. They can try borrowing their way out […]

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The Planning-to-Fail Plan

The little-recognized implication of this year’s election is that we are never going to fix Social Security. The unsustainability of the crown jewel of the middle-class welfare state is well known. As the Baby Boomers get old, there are fewer younger workers paying taxes to support them. The program’s reserves are being spent down and […]

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Anti-Middle-Class Economics

Well, that was quick. After less than two weeks, President Obama has dropped his plan to tax withdrawals from the “529” college savings plans widely used by middle-class parents. The proposal was never even remotely likely to see the light of day, nor was it worth debating on its merits. It was an outright money […]

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