Fact check: Perry Johnson’s $4,747 plan overstates Michigan tax cut savings

Johnson's proposal, in particular, has sparked several reader inquiries as part of Bridge Listens, our non-scientific survey of election year issues. 

Among them: Johnson says he will eliminate income tax, my question is, what revenues will be used to fund the state's operations? — Arlon from Sault Ste. Marie 

Can cutting 2 cents from every state dollar spent actually replace state income tax? — Bean from Brimley…

 https://www.michiganpublic.org/politics-government/2026-04-02/fact-check-perry-johnsons-4-747-plan-overstates-michigan-tax-cut-savings

 

Musk’s cost-cutting drive quietly deletes billions in claimed savings from website | Trump administration | The Guardian

Wall of receipts' drops five largest savings claimed by 'department of government efficiency' after debunking…

https://www.theguardian.com/us-news/2025/feb/26/musk-doge-savings-website

Nearly 40 percent of contracts canceled by Musk’s DOGE are expected to produce no savings | PBS News

Nearly 40 percent of the federal contracts that President Donald Trump's administration claims to have canceled as part of its signature cost-cutting program aren't expected to save the government any money, the administration's own data shows…

https://www.pbs.org/newshour/politics/nearly-40-percent-of-contracts-canceled-by-musks-doge-are-expected-to-produce-no-savings

DOGE says its savings total $55 billion, but analysis shows it’s less - The Washington Post

Yet a Washington Post analysis of the contract data found that many of the canceled contracts were already complete, meaning canceling them didn't yield any money back because they had been fully paid out — and indeed, 417 of the deals on DOGE's list indicate that they saved $0. Another 51 added up to savings of just under $1 million...

https://www.washingtonpost.com/business/2025/02/22/doge-savings-found-list-analysis/

DOGE released data about federal contract savings. It doesn’t add up : NPR

A new government tracker claims DOGE has saved billions from ending federal contracts. But an NPR analysis of the data finds the claimed savings don't add up...

https://www.npr.org/2025/02/19/nx-s1-5302705/doge-overstates-savings-federal-contracts

GOP's attack on Americans' retirement savings just went to the next disgusting level - Raw Story

"What they're (GOP and these financial predators) saying is, the only way they can operate is by giving you advice that is not in your best interest. "If they hung that on their shingle … no one would go to that financial adviser."

https://www.rawstory.com/raw-investigates/retirement-advice/

Scammers Are Targeting Older Americans and Their Retirement Savings - The New York Times

Criminals on the internet are increasingly going after Americans over the age of 60 because they are viewed as having the largest piles of savings...

https://www.nytimes.com/2024/07/29/business/retirement-savings-scams.html

Two-fifths of baby boomers, Gen Xers lack savings accounts: survey | The Hill

Only 60 percent of respondents said they have a savings account in a bank: 58 percent of Gen Zers, 61 percent of millennials, 57 percent of Gen Xers and 62 percent of baby boomers. Among those with savings, more than one-third said the account holds less than $1,000...

https://thehill.com/business/personal-finance/4159057-two-fifths-of-boomers-gen-x-lack-savings-accounts-survey/

'This is a big deal': What to know about the new retirement savings law - ABC News

First off, the new rules will take the onus off of workers to initiate new retirement accounts, instead enrolling them automatically when they start a job. Also, Secure Act 2.0 allows retirement accounts to automatically travel with workers when they move from one job to the next, Dickson said. 

Plus, the law creates a database for finding lost retirement benefits, helping workers keep track of and collect savings generated at a given employer or over a particular period of time that they may have otherwise overlooked...

https://abcnews.go.com/Business/big-deal-new-retirement-savings-law-secure-20/story

How to save a quarter-trillion dollars in health-care spending every year - The Washington Post

…Of the roughly $1 trillion in annual health-care administrative spending, we estimated the United States could save $265 billion annually, or roughly 6 percent of total health-care spending, by applying technologies and processes proven to work already. For context, that is more than Medicare fee-for-service spent on inpatient and outpatient hospital care combined in 2019. Put another way, this would amount to $1,300 for each adult in the United States…
https://www.washingtonpost.com/outlook/2021/11/11/health-care-costs-administrative-spending/

Why 401(k) plans won’t fix the U.S. retirement crisis

1 in 4 American workers don't have even $10,000 saved for retirement...

https://www.cnbc.com/2021/02/14/why-401k-wont-fix-us-retirement-crisis.html

'Seems Like a Good Policy!' CBO Shows Medicare for All Could Cover Everyone for $650 Billion Less Per Year | Common Dreams News

The analysis shows that administrative costs under a single-payer healthcare system "will be lower than what even the most rabid Medicare for All supporters have traditionally claimed."

https://www.commondreams.org/news/2020/12/11/seems-good-policy-cbo-shows-medicare-all-could-cover-everyone-650-billion-less-year

Aggressive push to 100% renewable energy could save Americans billions – study

An aggressive push towards 100% renewable energy would save Americans as much as $321bn in energy costs, while also slashing planet-heating emissions, according to a new report. Joe Biden, the Democratic presidential nominee, has vowed to eliminate greenhouse gases from the US power grid within 15 years and essentially zero out emissions by 2050, a plan assailed by Donald Trump as costly and detrimental to the American economy.....
https://www.theguardian.com/environment/2020/oct/22/us-renewable-energy-costs-savings-study-report

20 leading economists just signed a letter arguing Medicare for All would generate massive savings for American families | Markets Insider

Twenty of the nation's leading economists argued in support of Medicare for All in an open letter first published by Business Insider on Tuesday. "We believe the available research supports the conclusion that a program of Medicare for All (M4A) could be considerably less expensive than the current system, reducing waste and profiteering inherent in the current system, and could be financed in a way to ensure significant financial savings for the vast majority of American households," the economists wrote in the open letter.
https://markets.businessinsider.com/news/stocks/medicare-for-all-leading-economists-sign-letter-massive-savings-cost-2020-3-1028982592

Phil Ferguson Explains the SECURE Act (Opening Arguments podcast OA352)

Believe it or not, Congress apparently does occasionally pass laws still. One such law is the SECURE Act. The stated goals of the legislation involve trying to improve the retirement plans and options for Americans who are struggling to save enough. But was the legislation well-written or will there be unintended consequences? We’ve got Phil Ferguson of Polaris Financial Planning and host of the Phil Ferguson show to give us the breakdown!
Interview:
https://openargs.com/oa352-phil-ferguson-explains-the-secure-act/

The Secure Act makes critical reforms to our retirement system — let's pass it this year | TheHill

Every hardworking American deserves the chance to have a comfortable retirement. But for far too many Americans it seems out of reach: a recent study by Northwestern Mutual found that two thirds of Americans believe they’ll outlive their retirement savings. People are right to be worried, because as a country we are not saving enough for retirement.
https://thehill.com/blogs/congress-blog/politics/471863-the-secure-act-makes-critical-reforms-to-our-retirement-system

Fact Checker: Trump’s claim his deregulatory actions are saving American households $3,000 a year - The Washington Post

In compiling our latest update of The Fact Checker’s database of President Trump’s false and misleading claims, we noticed the president has a fresh talking point he’s been using at his campaign rallies — that the administration’s war on regulations is giving each American household an additional $3,000 a year.....
https://www.washingtonpost.com/politics/2019/08/15/trumps-claim-his-deregulatory-moves-are-saving-american-households-year/

Tips for Traveling Cheaply in Any City - NYTimes

Staying comfortable and staying connected away from home can be expensive, but it doesn't have to be.....
https://www.nytimes.com/2019/01/31/travel/tips-for-traveling-cheaply-in-any-city.html

Most Americans close to retirement have saved only 12% of what they need - CNBC

The average American close to retirement has only $120,000 saved, which won't last long, experts warn. ....
https://www.cnbc.com/2018/03/19/most-americans-close-to-retirement-have-saved-12-percent-of-what-they-need.html

This Is What Life Without Retirement Savings Looks Like - The Atlantic

Many seniors are stuck with lives of never-ending work—a fate that could befall millions in the coming decades. ....
https://www.theatlantic.com/business/archive/2018/02/pensions-safety-net-california/553970/