Chief economist/Moody's Analytics: Warren plan for SS will work and reduce deficit.

[blm]

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Mark Zandi, the chief economist at Moody’s Analytics, concurred with Warren that the extra revenue from wealthier taxpayers should keep Social Security solvent until 2054 and would also reduce the deficit. Social Security is currently projected to be solvent until 2035.

“The net macroeconomic impacts of the reform are small but positive in the long run; the economic benefit of smaller federal government deficits and debt load is largely offset as high-income people reduce their own work hours,” Zandi said. “The plan results in a much more progressive Social Security system, as high-income people shoulder the financial burden of the plan, while low- and middle income people benefit substantially. “
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https://www.usatoday.com/story/news/politics/2019/09/12/elizabeth-warren-social-security-200-per-month-taxing-rich/2294876001/

[BeyondGeography]

1. The senior poverty rate would be cut by 68%

Ahead of the release, the Warren campaign also solicited what officials described as an independent analysis of the plan by Mark Zandi of Moody’s Analytics, who estimated that the plan would cut the senior poverty rate by 68% and work over a period of 10 years to reduce the nation’s deficit by $1.1 trillion.

https://www.buzzfeednews.com/article/rubycramer/elizabeth-warren-social-security-plan

K&R

[blm]

2. You should post that as a new thread headline

Warren plan cuts senior poverty....

[BeyondGeography]

5. Great thought...thanks

[blm]

9. Good post, BG

[Faux pas]

3. Kickin' with gusto!

[Funtatlaguy]

4. Well heavens to Betsy. A plan that will work.

[blm]

6. GOP sez the US is going bankrupt, vote for the leader who can reverse it

Reverse it financially and morally.

[HeartlandProgressive]

7. K&R

[blm]

8. Economy needs to work for all.

For a change.

[Gothmog]

10. Exclusive: Economist who backed Warren healthcare plan has doubts about her wealth tax

Link to tweet

- A leading economist who vouched for Democratic presidential candidate Elizabeth Warren’s healthcare reform plan told Reuters on Thursday he doubts its staggering cost can be fully covered alongside her other government programs.

Mark Zandi, chief economist at Moody’s Analytics, also voiced skepticism that the wealth tax provision in Warren’s plan - a key funding mechanism - will produce predicted levels of revenue because those targeted by the tax will seek to dodge it.....

Zandi said despite signing a highly touted letter last week backing the calculations for Warren’s Medicare for All plan, he does not support shifting Americans off the private health insurance they have in favor of a single-payer, government-run regime.

“I am not a fan of Medicare for All,” said Zandi, who is not affiliated with any Democratic presidential campaign and does not speak for the Warren campaign. “We have 160 million people who have private insurance and are pretty happy with what they have. Why change that?"

”