The room at the National Press Club in Washington, D.C., was packed as Boston University economics professor Laurence Kotlikoff prepared to address them last week. In attendance were economists from the Treasury, the Congressional Budget Office, Washington-D.C. think tanks and the staff of the tax writing committees on Capitol Hill. They came to witness something economists had never seen before.
What Kotlikoff unveiled were the results produced by he, U.C. Berkeley economist Alan Auerbach and two of their colleagues: a calculation of the lifetime consequences of earning extra income, in light of 30 different federal and state tax and entitlement programs.
The results were stunning.
|John C. Goodman is a Senior Fellow at the Independent Institute, President of the Goodman Institute for Public Policy Research, and author of the widely acclaimed Independent books, A Better Choice: Healthcare Solutions for America, and the award-winning, Priceless: Curing the Healthcare Crisis. The Wall Street Journal and the National Journal, among other media, have called him the Father of Health Savings Accounts.|
Obamacare remains highly controversial and faces ongoing legal and political challenges. Polls show that by a large margin Americans remain opposed to the healthcare law and seek to repeal and replace it. However, the question is: Replace it with what?