Goodman: Don’t Repeal the Cadillac Plan Tax; Replace It

This week, the House repealed the tax on expensive employer-provided health plans. The tax is favored by economists because otherwise, the tax law would be subsidizing health spending – no matter how wasteful. However, John Goodman says the only good that is done by the tax is done in a very crude and ineffective way. Congress should replace the tax, he says – giving employers and their employees the option of a tax credit instead. More.

Kotlikoff: The Banking System is Ripping Off Ordinary Depositors

The Federal Reserve is paying banks 2.35 percent on their reserves. Banks are paying depositors only 0.06 percent. Competition would eliminate that gap and sensible reform would eliminate the risk of another Great Recession, says economist Laurence Kotlikoff. He points to a “narrow banking” reform, which he first proposed with John Goodman in The New Republic ten years ago. More.

Hayworth on Fox: Hate on the left is dangerous

In this clip titled: “How Do Swing Voters  Like the Squad”, Nan Hayworth talks with Trish Regan of PrimeTime about how the new Democratic “squad” and the tension with Nancy Pelosi may influence the voters. More.

Trump’s Radical Reform of Medicare, Part I

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

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.