Monday, September 13, 2010

How to fix Social Security in one graph

An option that won't be discussed by Alan Simpson's Catfood Commission...

How to fix Social Security in one graph
Ezra Klein | August 31, 2010

"The revenue loss over the next 75 years just from extending the tax cuts for people making over $250,000 -- the top 2 percent of Americans -- would be about as large as the entire Social Security shortfall over this period," write Kathy Ruffing and Paul N. Van de Water at the Center on Budget and Policy Priorities. "Members of Congress cannot simultaneously claim that the tax cuts for people at the top are affordable while the Social Security shortfall constitutes a dire fiscal threat."

We do have fiscal problems in this country: health care, for instance. We have to get growth in that sector down or we'll bankrupt the country. But that's not the case with Social Security. Social Security is just a question of priorities. And the legislators who are saying that we can extend the Bush tax cuts without offsets but that we need massive benefit cuts in Social Security are showing where their priorities lie, not stating a sad economic reality.

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