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The Unavoidable Choice: Entitlement Reform or Middle-Class Tax Increases
Released on Wednesday, March 8, 2023•ECONOMY
Prominent politicians like Joe Biden and Donald Trump are stating that major entitlement programs such as Social Security and Medicare are sacrosanct and should not be touched. That may be smart politicians, but it overlooks the fact that these programs have combined long-run deficits of more than $100 trillion. Yes, trillion. If Biden and Trump succeed in blocking any reforms, the inevitable consequences will be massive tax increases on lower-income and middle-class households, just as happened in Europe. And that means European-style economic anemia and much lower living standards for the American people.
Dr. Dan Mitchell is president of the Center for Freedom and Prosperity, a pro-market public policy organization he founded in 2000. His major research interests include tax reform, international tax competition, the economic burden of government spending, and other fiscal policy issues. Having also worked at the Heritage Foundation and Cato Institute, Dr. Mitchell has decades of experience authoring papers, writing editorials, working with the public policy community, and presenting the free-market viewpoint to newspaper, television, and radio media.
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