Social Security

A Case for Privatizing the Welfare State

Since the 1960s, the United States has spent $16 trillion on the welfare state. This unfathomable price tag is more than our entire national debt, which just recently reached $15 trillion. With social welfare expenditure at about 35 percent of GDP, the obvious question is: Are the benefits outweighing the astronomical costs we pay?

Payroll Tax Cut: House Republicans Plan Passage of Counter Legislation

House Republicans will roll out their version of the payroll tax cut extension and likely pass it Tuesday the lower chamber. The bill promises to depart wildly from past offerings by both parties in the Senate and brings up the difficult task of bridging a sizable gap between the two.

Why the payroll tax cut extension is best worst option

The White House unveiled a countdown clock this week, tick-tocking away the days, hours, minutes and seconds to a December 31 deadline for extending and expanding the payroll tax cut. It's a doomsday-style reminder that taxes will jump for an estimated 160 million Americans on January 1 if Congress doesn't act.

A New Yorker's Opinion: Albany Tax Plan's Debt to Occupy Wall Street

The long shadow of Occupy Wall Street fell across the New York Legislature Tuesday, when its leaders and Gov. Andrew Cuomo agreed to changes to New York State's income tax, which will cut rates for many in the middle class, while adding a new bracket for those making over $2 million a year. And we, the middle class, owe that rag-tag group of small-d democrats our gratitude.

Republican Voters Say Close Tax Loopholes, but Don't Cut Entitlements

To most Republicans in Congress, it is a given that any deficit-reduction deal would have to include cuts to entitlement programs like Social Security, Medicare and Medicaid. According to a newly released survey, however, Republican voters in four key early-voting states disagree.

Rick Perry Debate Gaffe is Missing from CNBC Transcript

At the CNBC Republican presidential candidates' debate on Wednesday, Rick Perry could only remember two of the three federal agencies he would eliminate as president. It was a potentially game-changing gaffe, but it is missing from the official CNBC transcript of the debate.

Republicans Seek $2.2 Trillion in Deficit Cuts

Republicans in Congress are calling for $2.2 trillion in deficit-reduction, including significant cuts to healthcare programs for the elderly and poor along with tax changes that they argue would boost the economy, congressional aides said on Thursday.

Obama Tax Plan: ‘This Is Not Class Warfare, It’s Math’

President Barack Obama has thrown down the gauntlet regarding the deficit reduction process -- the only question is, does he have the support of the American people to enact his budget vision, or is substantive action unlikely prior to the 2012 election, due to divided government?

Perry - is He Playing to His Base with ‘Ponzi’ Talk?

Rick Perry has been called “extreme” for his characterization of Social Security as a “Ponzi scheme.” However, he may end up being “extremely correct,” politically, if his creative description energizes his conservative base even more.

Private Medical Data for 20,000 Stanford Hospital Patients Was Online for a Year

The patients' names, account numbers, diagnosis codes, admission and discharge dates, and billing charges were posted on Student of Fortune, a commercial homework help Web site. The information was contained in a detailed spreadsheet, which the site posted on Sept. 9, 2010, to show customers how to create a bar chart from raw data.

Jobless claims edge down last week

New laims for unemployment benefits were little changed last week, a government report showed on Thursday, pointing to a marginal improvement in the labor market.

Social Security Payment Increases - Debt Deal Casualty?

Baby Boomers - the size of your Social Security payment may be lowered, if the current mood in Congress prevails. That's because 'Gang of Six' debt deal plan negotiators want to change the inflation/cost of living formula -- a change that would result in smaller annual payment increases for inflation.

Cantor Gives 'Gang of Six' Plan Mixed Review

The Gang of Six group of U.S. senators was finally able to agree to a deficit-reduction plan on Tuesday, but House Majority Leader Eric Cantor, R-Va., only give it a mixed review, citing his concern about the plan's revenue target while saying it proposes some constructive ideas.