Tag: taxes
Abstract The government’s Railroad Retirement program is a clear anomaly in the U.S. economic landscape. The program taxes employers and workers in a specific private-sector industry to provide pensions to workers in that industry. Like Social Security, Railroad Retirement had been funded on a pay-as-you-go basis, with Trust Fund assets invested in government bonds. In…
If you believe, as I do, that higher taxes should be part of solving the nation’s debt and deficit problems, then the fiscal cliff should be viewed as an opportunity as well as a threat. Including taxes as part of the solution is hardly an extreme position; both the Bowles-Simpson and the Domenici-Rivlin plans includ…
