…by saving up enough under a “contributory” financing plan. The workers also know that those older workers contributed to the previous system: a combination of welfare and old fashioned “honor…

…him. “Tom, Your heart is in the right place, but you miss the critical point. Social Security is not welfare. It is critically important that it is not welfare. FDR…

…Scrooge-like additions of hurdles and caps on social welfare provisions or attempts to roll back the social welfare insurance provisions into means-tested ones that will be even more susceptible to…

…was supposed to accomplish, but Goldman, Welfare, Queen, & Sachs (to borrow a term from Lambert Strether left at the previous post) has made out like the proverbial bandit, Kashkari’s…

…expectations also has important theoretical implications. For example, the first welfare theorem requires the assumption of rational expectations. It is absolutely not sufficient for aggregates to be the same as…

…on social security and three old people on welfare. Or about four workers for each retiree. And back then welfare paid better than Social Security. I won’t mention that back…

…Real reform, therefore, may require constitutional change that effectively limits the taxing and spending powers of government.” The Cato types see it as welfare, they disagree with government welfare programs…

…a program both sides of the aisle have long applauded. The logic of the EITC, as opposed to welfare, is that it increases rather than decreases the benefit of working….

[T]he myth of the welfare state fostering a lazy citizenry just doesn’t hold water. A group of small nations (combined population: about 25 million) that came up with Linux, Skype,…

…by any stretch of the imagination.” Now, what readers should know is that scrutinizing applications for social welfare organization status is in fact an important role of the IRS. There…