By Fareed Zakaria
“There’s no real fiscal solution that doesn’t involve changes to entitlements, and if we are going to adjust vital retirement programs, we must give people time to prepare. For this reason, many proposals exempt those within 10 years of retirement. A delay like this can work, but not if we continually defer action. Procrastinating for 10 years about a 10-year exemption makes it a 20-year exemption,” writes Michael Peterson in Roll Call.
“Simplifying our tax code should be another important part of the solution. Tax ‘expenditures’ now total $1.3 trillion a year (which is almost as much as all of the income taxes we collect), and many are market-distorting, wasteful and unfair. Done right, tax reform would make the entire code simpler and more equitable, while lowering rates for everyone, and reduce the deficit. And when we consider changes to vital entitlement programs, as well as to the tax code, wealthier Americans should of course contribute their fair share.”
“If the West wants to deal rationally with China, a paradigm shift in thinking is urgently needed. And, perhaps, such a shift could provide fresh ideas on how the West can approach the world differently and even begin to solve its own problems,” writes Eric Li for Yale Global.
“To begin a reassessment, it is useful to first recognize what China is not. It is not a revolutionary power, and it is not an expansionary power. It is not a revolutionary power because, unlike the West of late, it is a non-ideological actor on the world stage and not interested in exporting its values and ways to the outside world. Even as its interests expand far beyond its borders – and make no mistake, these interests will be vigorously defended – it will not seek to actively change the internal dynamics of other countries. It is not an expansionary power because that is not part of the Chinese DNA. Compared with the many empires in human history, even at the zenith of its own power during its long civilization, China has seldom invaded other countries in large scale.”