The Fiscal Commission Report has been issued in draft. Interesting reading. Simply it says:
1. Government must trim back. Well I think the taxpayers said that also.
2. Fix Medicare by semi market driven methods. Yes, we agree, but you may also want to slide it up to 70 over say 10 years. Also some means testing and increasing deductibles. I suggest retaining the no cap number, that is a catastrophic coverage plan, never know.
3. Slip SSI with age, up to 70 and thereafter set by demographic survival rates. Also add a means test.
4. Simplify taxes. I would drop 35% to 25% but that is me. Corporate tax should be 15%. To make up the difference cut Government by 15-18% not 10%.
Otherwise not too bad. And Krugman is screaming so something must be right here.
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A blog containing opinion and analysis in a wide array of areas including the economy, health care, broadband and international relations.
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- Florham Park, NJ, United States
- Terry has spent most of his career in industry, half in corporate executive positions, and half involved in his start ups. He started on the Faculty and Staff at MIT in 1967 and was there until 1975, and he had returned to MIT from 2005 to 2012 to assist groups of doctoral and post doc students. Terry has focused on a broad set of industries from cable, to satellite, wireless, and even health care software and medical imaging. Terry has published extensively in a broad set of areas as well as having written several books. Terry has returned to Medicine on Boards at Columbia University Medical Center. Copyright 2008-2024 Terrence P McGarty all rights reserved. NOTE: This blog contains personal opinions of the author and is not meant in any manner to provide professional advice, medical advice, legal advice, financial advice. Reliance on any of the opinions contained herein is done at the risk of the user. For publications see: https://www.researchgate.net/profile/Terrence_Mcgarty
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