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Wednesday, November 02, 2016

Why We Need Social Insurance

I make this argument every few years. Seemed like it was time to make it again (it's at MoneyWatch):

The economic case for social insurance: Republicans and Democrats have very different ideas about social insurance programs such as unemployment compensation, Social Security, Medicare and food stamps. Democrats would like to see the scope and generosity of these programs increased, while Republicans would like to cut back, if not eliminate, many of these programs (e.g. Obamacare). 

It’s true that GOP presidential nominee Donald Trump has, at times, said he’ll protect Medicare and Social Security. But given Trump’s plans to cut taxes and raise the national debt by trillions over the next decade, and the general Republican sentiment about social insurance, it’s hard to see how these programs can be protected if Republicans gain control of Congress and the presidency.

Part of the GOP’s objection to these programs is the idea that they take money from those who have earned and deserve it and redistribute it to those who have not. They say that’s unfair. Is that true, or is there an economic basis for social insurance? ...

    Posted by on Wednesday, November 2, 2016 at 09:38 AM in Economics, Social Insurance | Permalink  Comments (29)


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