Jagadeesh Gokhale works at the Cato Institute, a right wing think tank. He is on the Social Security Advisory Board (SSAB). He has a blog post up arguing with the Top 5 Social Security Myths posted by MoveOn.org. His basic point seems to be that the Social Security trust funds are a meaningless abstraction but that because this meaningless abstraction is going to run out of money in 2037 we need to cut benefit payments now. This seems contradictory to me.
Gokhale argues against solving Social Security's long term funding problem by lifting the cap on income covered by the F.I.C.A. tax since that would only increase government spending and because it would be unfair to high wage earners. Of course, this takes for granted that increased government spending during a recession would be a bad thing, that an increase in the F.I.C.A. cap would lead to increased government spending and that progressive taxation of income is a bad thing. Those beliefs can all be assumed among his colleagues at the Cato Institute but the rest of us may need some convincing.
Gokhale argues against solving Social Security's long term funding problem by lifting the cap on income covered by the F.I.C.A. tax since that would only increase government spending and because it would be unfair to high wage earners. Of course, this takes for granted that increased government spending during a recession would be a bad thing, that an increase in the F.I.C.A. cap would lead to increased government spending and that progressive taxation of income is a bad thing. Those beliefs can all be assumed among his colleagues at the Cato Institute but the rest of us may need some convincing.
"The Cato Institute is a libertarian think tank headquartered in Washington, D.C"
ReplyDeletehttp://en.wikipedia.org/wiki/Cato_Institute
I guess everything is right wing to you comrade Hall.
http://www.cato.org/ This is the Cato Institute's web address. The first paragraph of the website is titled, ABOUT CATO. It says, "The Institute is named for Cato's Letters, a series of libertarian pamphlets that helped lay the philosophical foundation for the American Revolution." It goes on to say, "The Jeffersonian philosophy that animates Cato's work has increasingly come to be called "libertarianism" or "market liberalism." It combines an appreciation for entrepreneurship, the market process, and lower taxes with strict respect for civil liberties and skepticism about the benefits of both the welfare state and foreign military adventurism."
ReplyDeleteYou may make what you wish of Mr. Hall's remark. But, no one could describe the Cato Institute as anything but conservative in the commonly used meaning of the word.
FYI. Nancy Ortiz
There's a shock. Ortiz the parrot falling in line with Hall's comments lock, stock, and barrel. You so desperately want his approval, why I don't know.
ReplyDeleteMs. Ortiz is correct, as is Mr. Hall. Anyone who follows policy and politics knows that the Cato Institute is one of the most well-known right wing think tanks.
ReplyDeleteHere is a couple of their "right wing" ideas
ReplyDeletehttp://www.sourcewatch.org/index.php?title=Cato_Institute#Cato_.26_Marijuana
Cato staffers and scholars have called for legalization of currently controlled substances, on the grounds that the War on Drugs does not work, is expensive, causes crime, is used as an excuse to reduce civil liberties and to pursue overly aggressive policies abroad, and infringes on the principle of personal liberty.
Cato staff have angered some conservative activists by strongly advocating the liberalization of immigration laws.
Like I said everything is right wing compared to Fidel Hall.
A#1, I sign my comments with my name. Who are you and why don't you favor us with your name or at least a screen name? Then we could google you and gain insight into your thoughts as expressed on other sites. I would find that helpful.
ReplyDeleteI wonder how China would feel if the US defaulted on these bonds.
ReplyDeleteWhat does "backed by the full faith and credit of the US government" mean to you?
"Bankruptcy" means nothing to anyone anymore.. just a term. "Pay no attention to the man behind the curtain!!"
ReplyDelete"A#1, I sign my comments with my name. Who are you and why don't you favor us with your name or at least a screen name? "
ReplyDeleteI still work here, so I rather not become a target.
A#1, My advice to everyone still employed at SSA is avoid posting on blogs while on company time. FYI. Nancy Ortiz
ReplyDelete