There is a dirty secret about state entitlements that liberals don’t want you to know. The collection of a state pension increases the chances that a pensioner will live in poverty. That’s because money put aside for state-guaranteed benefits can not be safely invested at rates that provide for more than a modest retirement unless the state subsidizes retirement benefits through taxes or if retirement savings are invested in riskier, higher yielding investments. Since governments are loath to raise taxes to subsidize a riskless retirement, benefits are eventually reduced. It works that way in London and Moscow as well as Madison...
Voting republican is not enough, you must then hold their feet to the fire because they still won't do what requires courage without the electorate browbeating them. After all, they're still politicians. Being less destructive is not good enough anymore.
- Gallup poll shows Tea Party supporters the most motivated to vote Ed Morrissey 51 mins ago
- Red line? ISIS used chemical weapons against Iraqi army Ed Morrissey 2 hours ago
- Rise of Ebola and terrorism a perfect storm for the GOP? Noah Rothman 2 hours ago
- Report: Ebola cases starting to drop in Liberia Allahpundit 3 hours ago
- Not exactly self-isolation: Ebola patient’s itinerary prompts questions about protocols Ed Morrissey 4 hours ago
- Does Georgia vote Democratic in 2014? Noah Rothman 4 hours ago