Trump’s Radical Reform of Medicare, Part II

Donald Trump is using his executive authority far more aggressively than Obama ever did. He is not just circumventing Democrats. On health care, he is circumventing the entire GOP. Republicans in Congress, their special interest friends and think tank supporters have shown almost no enthusiasm for any of this. On the Hill, there have been no hearings. No legislation. No briefings. Not even a speech or two. In the meantime, the Trump administration is reforming the entire health care system. John Goodman and Lawrence Wedekind describe the changes in a two-part post at Forbes. More at:

John Goodman and Lawrence Wedekind, Trump’s Radial Reform of Medicare, Part I

John Goodman and Lawrence Wedekind, Trump’s Radial Reform of Medicare, Part II

The $3.4 Trillion Retirees Aren’t Getting From Social Security

Bad Social Security Choices Cost the Average Elderly Household $111,000. United Income, a financial planning advisory service, just released an important study called, “The Retirement Solution Hiding In Plain Sight.” Using government data and proprietary software, it calculates how much money retirees have lost, and are losing, by making mistakes about when to start claiming Social Security benefits. United Income’s answer: a whopping $3.4 trillion or $111,000 per household! More at:

Laurence Kotlikoff, The $3.4 Trillion Retirees Aren’t Getting From Social Security

Laurence Kotlikoff, Is Social Security Being Hacked? The Wildly Incorrect Social Security Benefit Statement Mystery

One of the nation’s leading authorities on Social Security says the system is sending out faulty information to workers, who are trying to plan for their retirement. Social Security told one worker that if he retired at age 66 he would get the monthly benefit he would actually receive only if he waited until age 70. It told him that if he retired at age 62, he would get a benefit that would actually be paid only if he waited until age 66. Kotlikoff says he has confronted the Social Security administration with the mistakes and has not received a response. More at:

Laurence Kotlikoff, Social Security is Mailing Out Incorrect Benefit Statements

Laurence Kotlikoff, Is Social Security Being Hacked? The Wildly Incorrect Social Security Benefit Statement Mystery

Social Security Is Mailing Out Incorrect Benefit Statements

One of the nation’s leading authorities on Social Security says the system is sending out faulty information to workers, who are trying to plan for their retirement. Social Security told one worker that if he retired at age 66 he would get the monthly benefit he would actually receive only if he waited until age 70. It told him that if he retired at age 62, he would get a benefit that would actually be paid only if he waited until age 66. Kotlikoff says he has confronted the Social Security administration with the mistakes and has not received a response. More at:

Laurence Kotlikoff, Social Security is Mailing Out Incorrect Benefit Statements

Laurence Kotlikoff, Is Social Security Being Hacked? The Wildly Incorrect Social Security Benefit Statement Mystery

Goodman: Trump is unleashing personal and portable health insurance

An Obama regulation stipulated that employers caught giving their employees pre-tax dollars to purchase their own coverage could be fined as much as $100 per day for each employee, or $36,500 a year. This was the highest penalty in all of Obamacare regulations. Thankfully, the Trump administration is eliminating this penalty and much more. Beginning next January, employers will be able to use HRAs to help employees obtain their own coverage with the administration’s blessing. More.

Kotlikoff: Tax law is more progressive because of tax reform

What share of the tax cuts went to the rich and the poor? The richest 1 percent received 9.3 percent of the total tax cuts, but they were previously paying 30.2 percent of all the taxes. The top 20% received 52.2 percent of the tax cuts, but they were previously paying 80.1 percent of the taxes. The bottom 20% got 3.3 percent of the tax cuts. But previously they were not paying taxes at all. In fact they were receiving a 9.0 percent “refund.” More.

The Anti Science Party

Could everyone in America live above the poverty line if only employers were less greedy? Bernie Sanders thinks that. He also thinks that Medicaid, Food Stamps and other poverty programs are subsidizing corporate greed — because they make it possible for employers to pay low wages. Alexandria Ocasio-Cortez (AOC) calls the federal minimum wage of $2.13 an hour for people with tip income “indentured servitude.” What’s her answer? The government should force employers to be more generous. More.

Kotlikoff: Social Security is defrauding people

In his latest column on the subject, Prof. Kotlikoff says Social Security underpaid close to 10 thousand widow(er)s now over age 70 some $130 million and is underpaying each new cohort of widow(er)s reaching age 70 roughly $10 million. More.

Kotlikoff: Social Security’s deficit just rose by $9 trillion

Kotlikoff: Social Security is Broke

Social Security’s annual Trustees Report just came out and it shows that Social Security ran a gigantic $9 trillion deficit between last year and this year. The system’s long-term unfunded liability is now $43 trillion, up from $34 trillion last year. More.