Krugman on Social Security privatization:
"President Bush is like a financial adviser who tells you that at the rate you're going, you won't be able to afford retirement - but that you shouldn't do anything mundane like trying to save more. Instead, you should take out a huge loan, put the money in a mutual fund run by his friends (with management fees to be determined later) and place your faith in capital gains."
By the way, his main point in the piece, that the Bush plan is based not on faith in the market, but rather on the sucker's view that you can beat the market and find a free lunch, is the same one that I made in my David Brooks slam last month.
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Unfair but balanced commentary on tax and budget policy, contemporary U.S. politics and culture, and whatever else happens to come up
My books and articles
- Bonfires of the American Dream
- Literature and Inequality
- Fixing U.S. International Taxation
- Getting It
- Decoding the U.S. Corporate Tax
- Taxes, Spending, and the U.S. Government's March Toward Bankruptcy
- Do Deficits Matter?
- Making Sense of Social Security Reform
- Who Should Pay for Medicare?
- When Rules Change
- Corporate Tax Shelters in a Global Economy
- Federalism in Taxation: The Case for Greater Uniformity
- My articles on SSRN
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2005
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January
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- NYU Tax Policy Colloquium – Shuldiner on “Taxation...
- Thank goodness for freedom of the press
- Drunk, insane, dishonest, or stupid?
- Nicely done
- NYU Tax Policy Colloquium - Griffith on "Progressi...
- Social Security reform is dead; long live Social S...
- Roger Lowenstein on Social Security
- The Tax Reform Commission
- Refreshing but a bit brisk
- NYU Tax Policy Colloquium - Shaviro (me) on "The A...
- "Tax reform" update
- This is a full service website ...
- Tales out of school
- Off the fence?
- To call it "nerve-wracking" would overstate it con...
- An idea for President Bush's tax reform panel
- President Bush's Tax Reform Panel
- Sabermetrics and Bush
- Torture memos and spin
- Santa Claus is coming to town (but lock up the sil...
- It can't happen here?
- A modest proposal
- The tragedy in Asia
- Can't we all just get along?
- Looking to the horizon
- Wow - a seven-letter word!
- The New York Times' best political writer (by far)...
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About Me
- Daniel Shaviro
- New York, New York, United States
- I am the Wayne Perry Professor of Taxation at New York University Law School. My research mainly emphasizes tax policy, government transfers, budgetary measures, social insurance, and entitlements reform. My most recent books are (1) Decoding the U.S. Corporate Tax (2009) and (2) Taxes, Spending, and the U.S. Government's March Toward Bankruptcy (2006). My other books include Do Deficits Matter? (1997), When Rules Change: An Economic and Political Analysis of Transition Relief and Retroactivity (2000), Making Sense of Social Security Reform (2000), Who Should Pay for Medicare? (2004), Taxes, Spending, and the U.S. Government's March Towards Bankruptcy (2006), Decoding the U.S. Corporate Tax (2009), and Fixing the U.S. International Tax Rules (forthcoming). I am also the author of a novel, Getting It. I am married with two children (boys aged 24 and 21) as well as three cats. For my wife Pat's quilting blog, see Patwig’s Blog.
4 comments:
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