July 15, 2011

SECOND WAY GOALS VIA FIRST WAY MEANS:

How To Serve The Needy At A Fraction Of The Cost (PETER FERRARA, 7/14/11, IBD)

Our nation's entitlement programs, from Social Security to Medicare to ObamaCare to dozens of welfare programs such as Medicaid, are all based on simple, late-19th century tax and redistribution ideas. Politically, we will never be able to solve the entitlement crisis by simply trying to cut people's benefits.

As I discuss in my new book, "America's Ticking Bankruptcy Bomb," the only politically viable solution is fundamental, structural reform that would modernize the systems to rely instead on capital, labor and insurance markets, with transformed incentives that would lead them to contribute to economic growth rather than suppress it.

Through such reforms, we can achieve all the liberal social goals of those programs far more effectively, serving seniors and the poor far better, at just a fraction of the costs of the current tax and redistribution framework. That would make the necessary reforms politically viable.




Posted by at July 15, 2011 5:32 AM
  

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