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Inflation Relief for Seniors

Inflation Relief for Seniors

Senior retirees on fixed incomes are inflation’s worst victims. What can be done?

  • Index the Social Security benefit tax thresholds – so that seniors do not lose more of their benefits because of inflation.
  • Inflation indexed bonds (TIPS) can protect seniors from inflation. We should also protect seniors from higher taxes when inflation causes income from those bonds to rise.
  • Seniors should be able to exchange their non-indexed pensions (which lose value as prices rise) for an inflation-indexed annuity, which rises whenever prices rise.

More from Larry Kotlikoff

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Whatever Happened to the $15 Minimum Wage?

Whatever Happened to the $15 Minimum Wage?

It seems like only yesterday that the $15 minimum wage was high on the agenda of every self-respecting progressive politician, including Hillary Clinton in her presidential campaign. The “Fight for 15” was successful in several states and even went statewide in New York and California. So why aren’t we hearing more about the idea these days? It may be because labor markets are working, just like textbook economics say they should. More

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Money Magic – An Economist’s Look Into Personal Finance

Money Magic – An Economist’s Look Into Personal Finance

“Your World, Your Money sits down with bestselling author & Economics professor Laurence Kotlikoff to discuss his new release, “Money Magic,” an economist’s primer on personal finance for navigating career, retirement, loans, and more; challenging longstanding notions of economics and introducing base principles for pursuing financial security.”

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What’s Wrong with Planting More Trees?

What’s Wrong with Planting More Trees?

Planting trees to sequester carbon and prevent carbon dioxide emissions has become very popular (whether it is accomplishing much or not). Now the New York Times reports that the effort to save the world is causing local ecological harm by bringing in non-native species.

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What’s Wrong with the Economy?

What’s Wrong with the Economy?

Inflation has been driven by an explosion of federal spending, which rose to 40% of GDP. Spending surged as the pandemic shutdown reduced employment and production during that period by an average of 7%. In this textbook case of inflation, $1.20 of income began chasing 93 cents of goods and services – a process greased by expansive monetary policy. That mismatch sent inflation to a 40-year high.

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Did the Government Make us Fat?

Did the Government Make us Fat?

Beginning around 1980, the federal government and public health agencies began demonizing meat and saturated fat as the major cause of obesity, diabetes, and cardiovascular disease in the U.S. and around the world. They promoted a low-fat diet with increased consumption of carbohydrates instead. Obesity in the US has been steadily increasing ever since.

Sadly, these top-down public health campaigns served up a perfect nutritional storm for higher levels of obesity, diabetes, high blood pressure, and cardiovascular disease. And this was done while mounting, high-quality, peer-reviewed nutritional research suggested the basis for their advice was completely wrong.

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Pro-Patient, Pro-Family, Pro-Free-Enterprise Health Reform

Pro-Patient, Pro-Family, Pro-Free-Enterprise Health Reform

Two years ago, 81 think tanks and grass roots organizations signed onto Health Care Choices, a comprehensive reform of the health care system. This was a huge accomplishment – since the conservative think tanks had been at odds over health policy for almost three decades.

The most important innovation in our approach is this: We should begin by saying Obamacare has made health insurance unaffordable and the best doctors and hospitals inaccessible. In other words, we should go right to the heart of what the other side promised and didn’t deliver; and then pledge to do what they didn’t do by empowering individuals and letting markets work.

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