I came away believing that a consensus exists among economists across the ideological spectrum on at least one important issue: America’s entitlement spending — mostly Social Security and Medicare — is not sustainable.
It’s the TAX CUTS FOR THE RICH that are not sustainable. THAT is why we will have trouble providing for our people as we get older.
United Aitlines was supposed to fund its pensions. Instead, it paid that money out as dividends, increased share prices, bonuses or otherwise enriching what we might call the owner class. Same with all the other companies that were supposed to be funding their pension obligations. They handed the money out to the rich instead, and now say “too bad, ain’t gonna pay you” to the people who did the actual work.
America was supposed to fund its Social Security. Instead it paid that money out as tax cuts, corporate subsidies, no-bid contracts, whatever, to the owner class. They handed the money out to the rich instead, and now says “too bad, ain’t gonna pay you” to the people who did the actual work.
But I’ve been going on about this for years.