Posts Tagged ‘Social Security’
Government as Insurer
Our government runs the FDIC to protect us from bank failures, the Pension Benefit Guarantee Corporation to protect our pensions, Medicare, Medicaid and Obamacare to protect our health, FHA, Fannie and Freddie to guarantee our mortgages, Social Security to protect our income in old age, crop insurance, flood insurance and on and on. I only…
Read MoreTax Cut Stimulus
If Congress does not extend the temporary Social Security payroll tax cut on employees of 2% (from 6.2% to 4.2% on the first $106,800 of income) beyond the end of ’11, that would cut about $120 billion off GDP. And, if long-term unemployment compensation is not extended that’s another $30 billion. Together, that’s a 1%…
Read MoreBudget Brawl Begins
The budget battle over FY ’12 is here! The R plan makes big cuts to Medicare & Medicaid, ignores Social Security (SS) and keeps the Bush tax cuts. The D plan, will also ignore SS (2 risky) and will propose; cuts to many programs, reduction of popular tax deductions, increased taxes for the rich and…
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