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View Diary: Hell, No! Social Security Contributes Nothing To Deficit (119 comments)

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  •  The Northwest Plan for a Real Social Security Fix (1+ / 0-)
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    run around

    80 cents per week per year of tax increase for the average worker fully funds Social Security with no changes in benefits or retirement age. This works out to about 5% of the projected increase in Real Wage even under the pessimistic projections of Imtermediate Cost

    Doubters can consult CBOs 2010 Report 'Social Security Policy Options' where you can see that Northwest is a combination of Options 2 and 3.

    When Bush set up his CSSS in 2001 (Commission to Strengthen Social Security) its guidelines forbid inclusion of payroll tax hikes as a component of the fix. Not because it would be too expensive for workers, he was perfectly happy to screw them every other way, but because a payroll only fix projected to be cheaper and more effective than any privatization plan. For whatever reason the left never asked for it to be put back on the table, instead proposing various cap proposals.

    80 cents a week. Or of you like 0.1% of payroll. For 20 years or so after which the rate of increase would decrease. The numbers work and are a Google away.

    SocSec dot.Defender at - founder DK Social Security Defenders Group

    by Bruce Webb on Mon Apr 08, 2013 at 10:11:21 PM PDT

    [ Parent ]

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