The Coming Generational Storm: What You need to know About America’s Economic Future

by | Feb 21, 2015 | ENTITLEMENTS

Since we’ve promised more than we can deliver, someone’s ox will get gored.

Taxes and transfer programs cut the spending to the top 1 percent in half, but they double the consumption of those in the bottom fifth of the income distribution.
From a forthcoming NBER study by Alan J. Auerbach, Laurence J. Kotlikoff and Darryl Koehler

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Generational Storm Graph Entitlements