Fixing Social Security and Medicare

Percentage Increases in Taxation or Cuts in Expenditure Required Today to Acheive Generational Balance in U.S. Fiscal Policy

1. Increase federal income taxes                 + 69%

2. Increase payroll taxes                                 + 95%

3. Cut federal purchases                                   – 100%

4. Cut Social Security and Medicare            – 56%

 

Source: Gokhale (Federal Reserve) and Smetters (U.S. Treasury)  2003

Quoted in: Colossus, by Niall Ferguson

 

 

Recent reading

Crowds and Power

The Quest for Moral Foundations (for the second time)

The Mayor of Casterbridge

Books on CD recently listened to:

China Road

Utopia and Terror in the 20th Century

 

 

I’m reading:

The Ascent of Money

Enlightened Democracy: The Case for the Electoral College

Dave Barry Hits Below the Beltway

Rez Life

 

My next read from the Great Books will, I think, be Herodotus.

 

I’m working on reading the books in lists like these:

http://en.wikipedia.org/wiki/Great_Books

http://chocolateonmycranium.blogspot.com/2009/08/reading-list-for-lifetime.html#.T-eVyrWJdD0