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.
- Quotes of the day Allahpundit 6 hours ago
- John Roberts doesn’t believe either Scalia or Ginsburg could be confirmed today Jazz Shaw 7 hours ago
- Publisher rips New York Times for snubbing David Limbaugh’s book Noah Rothman 9 hours ago
- How to lose a war before it begins Noah Rothman 10 hours ago
- Putin: I could have troops in Kiev… Warsaw and Bucharest Jazz Shaw 12 hours ago
- NFL Week 3 open thread Ed Morrissey 13 hours ago