Different assumptions about such future outcomes result in very different conclusions about the future solvency of the social security system. Recently, the United States has enjoyed a strong economy with low levels of inflation and unemployment. The strong economy, however, has not resulted in a steady rise in income for all Americans. In fact, for the last twenty years, the gap in income between rich and poor has increased. Full Debate Technological advances allow society to produce more output from the existing mix of resources.
Society clearly gains from the production of either more output or more highly valued output.
Full Debate One of the basic issues at the heart of the WTO controversy is whether free international trade benefits or harms the U.S. economy. The focus of the current debate is on the more narrow topic of whether our participation in the WTO benefits the U.S. economy. While virtually everyone agrees the the current tax system is excessively complex, there is no tax simplification plan that is universally accepted. The major problem is that most proposed changes in the tax structure will benefit some taxpayers and harm others.