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re: "Conservatism" has to be more than just a defensive posture
Posted on 4/15/24 at 9:54 am to SlowFlowPro
Posted on 4/15/24 at 9:54 am to SlowFlowPro
quote:
That's not going to help with the deficit and will likely only keep increasing it.
Nah, once funded you can offer a much better retirement for much less money. It's one thing Canada does right. Short term hit for long term stability.
At least last time I looked at it, 15 years ago before democrats and their lying media lapdogs crushed it, you could find the shortfall with the employer contribution and offer more money to participants through investing their contribution.
It's probably materially worse now after 15 years, but almost still certainly what needs to be done.
quote:
Social security has to be a Target of decreased spending for deficit purposes. However they won't even talk about a decrease just to keep the program solvent let alone have an overall decrease and spending to make it net positive for our budget and deficit
You're stuck in a tax and spend straight line thought process when the fix to this is to get the funds compounding and let economic growth get us out of this hole.
Posted on 4/15/24 at 10:23 am to Turbeauxdog
quote:
and let economic growth get us out of this hole.
Not really possible. Do the math and calculate what sort of GDP increase we will need (assuming no extra government spending and a return in taxers of 20% of GDP).
Every $100B in tax growth will require $500B in private sector GDP expansion. Our current deficit is $1.6T, so just to get even (ignoring the debt), our private sector GDP will have to increase what, $8T?
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