In response to:

The Safety Net That Isn't

Irresponsible47Percenter Wrote: Jan 06, 2013 1:42 PM
This is false. The "scheme" can work forever because, unlike a Ponzi scheme, it does NOT promise a fantastically high rate of return on however much money you can be suckered into investing. You get X $$/month, no more no less, from retirement to death. I DO believe that the temptation to "invest" the vast surpluses of the past was a net bad thing, and I suggest a means of avoiding it above. What is unsustainable is to hold the retirement age constant while people live longer and longer.

January 6, 2013

Congress has just raised payroll taxes. It has done it before, and will do it again.

Our august solons excuse themselves, however, by pleading that the 2 percentage point hike is merely the sunset of a tax holiday. And necessary to shore up a faltering system.

It’s not a triumph of responsibility, though.

What is responsibility? Every year the Social Security Administration sends out a helpful note to its “clients” about how much we’ve contributed in payroll taxes. The kindly bureaucrats also warn us not to...