Continuing to run surpluses... brings to center stage the critical longer-term fiscal policy issue of whether the federal government should accumulate large quantities of private assets. —Alan Greenspan, Jan. 25, 2001
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If I believe that my FICA tax rate is going to increase in the future I atleast have an individual choice to save and invest any such FICA tax refund myself to cushion future tax increases--and if by some miracle of economic growth there is no need to increase tax rates then I've got more for personal consumption or giving to those of my choosing in the future.
Continuing to run surpluses... brings to center stage the critical longer-term fiscal policy issue of whether the federal government should accumulate large quantities of private assets.
Well, we won't have to worry about THAT particular problem for quite some time again.
Posted by: PseudoNoise | 29 December 2007 at 14:38
Our how about tax refunds for FICA surplus?
Posted by: MarkG FmPA | 03 January 2008 at 08:57
If I believe that my FICA tax rate is going to increase in the future I atleast have an individual choice to save and invest any such FICA tax refund myself to cushion future tax increases--and if by some miracle of economic growth there is no need to increase tax rates then I've got more for personal consumption or giving to those of my choosing in the future.
Posted by: MarkG FmPA | 03 January 2008 at 09:01