The American Spectator

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Another Perspective

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Cut unnecessary government spending on the rich.

Not, mind you, raise taxes. Rather, Congress should slash outlays.

That's not hard to do. My Cato Institute colleague Stephen Slivinski estimates that corporate welfare runs about $90 billion annually.

There's never been a good justification for forcing average taxpayers to enrich Boeing and McDonald's and Archer Daniels Midland and the multitude of other firms on the federal dole.

The federal budget offers a target-rich environment. There are the Export-Import Bank and Overseas Private Investment Corporation. There are subsidies for the agriculture and maritime industries.

There are automobile, energy, and technology research payments. There is an endless stream of grants and loans to the housing industry and other businesses in a variety of guises.

These programs should be cut on their merits. But ensuring that Americans regain control over their retirement destinies offers another good reason to act.

Countries the world over are struggling with pension systems that face collapse as more people live longer. The U.S. is no different. Only bold reform, allowing Americans to control more of their own Social Security dollars, will avoid a national retirement catastrophe.

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Taxes, Economics, Business, Federal Budget, Social Security, Environment, Iraq, Energy