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David Ditch: Tax increases for Social Security could hurt investment and economic growth

David Ditch: Tax increases for Social Security could hurt investment and economic growth
Tax hikes for Social Security and investment

David Ditch questions the effectiveness of raising taxes to fund Social Security. He states that channeling more money into Social Security through higher taxes would reduce investment in the economy, potentially lowering productivity, jobs, and wealth.

Ditch further references a past policy decision from 2005 that he believes should not be repeated.

Ditch has previously highlighted pressures in public-sector finances. He reported that New York's Medicaid spending grew 16 percent in one year despite stagnant population growth. In an earlier warning, he noted that New York City’s pension deferral may increase medium-term costs and prompt calls for federal support.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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