Ken Langone told CNBC on Wednesday Congress “has to have the courage” to make Social Security means tested, arguing a billionaire like him shouldn’t be getting $4,000 a month (he and his wife) from the government when entitlements are 71% of spending.
In a way, means testing would be a good thing, as it would finally cure the delusion that Social Security is anything other than a welfare program, although I’m not sure the public wouldn’t make peace with that rather quickly, rather than consider turning off the spigot.
What it wouldn’t do, unless the benefit cutoff threshold were very low, is make a difference in the program’s basic insolvency. The problem with Social Security isn’t just that it’s welfare, but that it’s welfare for everyone – “Everybody plunders everybody,” as Frederic Bastiat would say. There are currently 62 million currently receiving checks. For 60% of them, Social Security makes up half or more of all their income. Millions more have come to depend upon the benefits, even if they make up a smaller percentage.
It might make people feel good to know millionaires and billionaires will no longer receive Social Security checks, but it won’t make much of a fiscal difference. There aren’t enough of them to significantly lower the payouts. To affect Social Security’s bottom line, people who would miss the money are going to have to take a hit.
There are only two ways out: default or bankruptcy. Either way, it’s going to be ugly. Social Security really is an evil mess that can’t but end badly. Ditto for Medicare, times ten.
Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.
Everyone loves democracy, until the vote doesn’t go their way. Then, there are protests, marches, recounts, and other forms of whining from everyone who doesn’t like the results. We saw that after Donald Trump’s election and after the 2018 midterms, when Democrats tried to keep recounting the votes in some races until they got the result they wanted.
Many of my southern friends who have never lived in the north may not know how snow removal works up here. What if you’re elderly or disabled and can’t shovel/snowblow your driveway? Or what if you just don’t want to?
Today is the 77th anniversary of the day the tyrant FDR succeeded in getting the U.S. into WWII, over the wishes of the people who elected him. Ironically, Roosevelt’s excuse for seizing Japanese assets and cutting off their oil was Japan’s brutal occupation of China, begun with the support and encouragement of Roosevelt’s own cousin just a few decades earlier, as the late William N. Grigg
With Democrats
I’m told the former Armistice Day, co-opted by the warfare state to celebrate war rather than its absence, is not the time to remind my fellow taxpayers that no war in the past seventy years has benefited them in any way whatsoever, much less preserved what freedom they have left.
Despite 21 straight months of screaming headlines from both anti-Trump and pro-Trump media, virtually nothing about Washington, DC and it’s empire has changed.
Tucker Carlson is
An Atlanta, Georgia, charter school
Reeling in horror over President Trump’s nomination of Brett Kavanaugh (or