DEFERRED TAXES UPDATE….Last month I mentioned an analysis that suggested Social Security wasn’t really in big trouble because we would soon start benefiting from $12 trillion in tax revenues from baby boomer IRA accounts. There was plenty of money for Social Security without raising taxes.
Sounds good, but via Max Sawicky I see that Michael Boskin, the author of the analysis, now says that a programming error led to a “considerable overstatement” in the first draft of his study.
Easy come, easy go.
