@CatoInstitute Director of Budget & Entitlements Policy | Sign up for The Debt Dispatch here: https://t.co/41t7Z3Mrfp
Aug 15 • 11 tweets • 3 min read
It's tempting to believe that Social Security is an "earned benefit"—after all, that's what we've been sold, and it feels good to think of it as "our money." But the reality is more complex. It’s important that we look under the hood to see what’s really going on. 🧵 1/
Social Security is a pay-as-you-go system—a tax-and-transfer system—where today's workers fund today's retirees. 👷💸—>>👴💰
There’s no saving or investing that takes place. Payroll taxes are spent immediately. /2
May 12, 2020 • 8 tweets • 4 min read
House Democrats have released a completely unserious proposal to respond to the public health and economic crisis the nation is confronting as a result of COVID-19. Here are 5 red flags in the #HeroesActdailysignal.com/2020/05/12/5-k…@Heritage1) The bill would extend the misguided and harmful $600 unemployment bonus through January 2021, with an additional extension possible through March of next year.