Monthly Archives: August 2018

The Problems of Social Security—Radical Reforms Needed: One generation already hurt. Will the next one also get mulcted? Time to consider the what was once thought impossible: Offer new retirement saving choices and start to unwind the Social Security by making it compete.

As we discussed in the previous segment, Social Security, America’s bedrock government retirement program, is on a collision course with mathematics. More people are collecting for longer periods than in previous generations. Fewer people are entering the workforce who will pay into the system. The Social Security surpluses accrued in the 1970s through the 1990s,…

Continue Reading →

Don’t Depend on the Government in Retirement: The American Social Safety Net Has Holes

In planning retirement, Americans should be skeptical of the retirement promises of pols, who come and go. That’s because your parents’ dependable Social Security and company pensions no longer exist. This worries many workers who expect Social Security to fund a significant part of their retirement income. Social Security Gets Long in the Tooth As…

Continue Reading →

The Credit Card Bill Is Too Damn High!: And I’m still paying for a car I don’t have

Many Americans learned nothing about basic money management over the past decade. They lived through the recession of 2008 when they suddenly couldn’t pay credit card bills, and have apparently forgotten those hard times. And, as a philosopher famously warned, those who forget the past are doomed to repeat it. It’s Happening Again Indeed, despite…

Continue Reading →

The City Is a Good Place for a “Low Risk” Crime: Anti-Smoking Efforts Can Backfire

Perhaps even virtue has need of limits. That’s because a good thing—such as persuading people that smoking is a bad thing—can go too far. We see it here in New York, where some of the highest smoking taxes in the world have led an avalanche of illegal cigarettes brought into the city and state. They…

Continue Reading →