Here's what the Presidential candidates say they'll do about your taxes and the nation's economic policy: Avoid fixing the big problems. Unfortunately, most of the front-runners have promised to do next to nothing about fixing Social Security or Medicare. That's hugely unfortunate. What we really need are mandatory individual savings accounts, but only if the individual gets a lot of choices about what to do with their money. It's no good if you'll only get to pick from four or five mutual funds; you'd have to be able to invest in at least as many options as you get with a Roth IRA. That, of course, also means we'll have to teach people how to invest when they're young, rather than waiting until they're way behind the curve. Waiting to start until you're 40 means having to save twice as much as a person who starts when they're 25. The need for a change is pretty serious: The ratio of workers to beneficiaries in Social Security used to be 16.5 to one. Now, it's 3.3 to one. The number is headed towards 2 to 1, and that's just impossible to deal with.
If you're one of the millions of Americans planning to fly this summer, be aware that you're going to be sharing some very crowded skies. If the weather gets bad or the airline unions go on strike, travelers could be up a creek without a paddle.
Why anyone would pay $72 million for a painting is completely beyond me; especially when they could've bought a Boeing 737 instead...and paid for plenty of gas!
In case you need a good laugh, here's a random quote for the week: "At first I was worried, but then I realized it was just George's eyebrows burning."
Don't forget: Stamp prices have risen again; a First-Class letter now costs more than twice what it did in Reagan's first term. Speaking of stamps, does changing the name of food stamps really change what people think of the program?
Keywords in this show: art • Boeing 737 • economics • flying • food stamps • humor • investing • labor strikes • mandatory retirement savings plans • Medicare • mutual funds • postage • Presidential candidates • Roth IRA • Social Security • stamp prices • taxes • unions • weather