Tag: social security

Economics

The Flat Tax Revisited

Every four years, during the presidential election season, Republican candidates criticize the abuses of the IRS and the complexity of …

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President's Blog

Sticking to Your Principles (and other life lessons)

LCC reader Ron emailed me recently about my post: “Should we hold all things in common?” He writes: I share …

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President's Blog

Should we hold all things in common?

Keith asks via email: Do you think that if the church really returned to the way of the early church …

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Economics

The Lottery is the Best Tax

This entry is part 40 of 44 in the series Christian Theology of Public Policy Course

This essay continues the Christian Theology and Public Policy Course by John Cobin, author of the books Bible and Government …

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Libertarianism

Social Slavery

This entry is part 16 of 22 in the series Great Libertarian Memes

The current Social Security (aka “socialist insecurity”) system is designed as a pay-as-you-go system, in which current workers’ tax dollars pay for the benefits of retirees. And the system is in serious trouble. With increased life expectancy and a declining birth rate, there are fewer workers to support a greater number of retirees. In 1950, there were 16 workers paying for the benefits of one retiree. Today, there are about three workers per retiree, and by 2025 there will only be two. According to the Social Security Administration itself, if unreformed, Social Security will begin running a deficit by 2017, and by 2060 Social Security and Medicare combined will make up 71 percent of the federal budget.

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Economics

10 Things I Hate About Taxes #5: Your Tax Dollars at Work

This entry is part 5 of 12 in the series Ten Things I Hate About Taxes

Think about all the crazy things you know your tax money pays for…

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