Bogus Social Security issue

[johndavidjr]

Martin Feldstein, big Reagan economics advisor, had a piece in today's WSJ arguing heavily for W's social security "plan." Indirectly, it was noted, that to keep program sovent & at current level of benefits in the future would require a 3% increase on SS payroll tax, plus a similar level of employer contribution.

 

I suppose this is something like a 1% increase in my total tax burden, & perhaps the same or less for employer. So where's the crisis in the program?? Why mess with it?

 

My employer, by the way gets all of its revenue from financial companies, who stand to see large influx of funds under Bush plan, and who strongly support the idea. Wall Street, for you conspiracy fans, may have a disproportionate influence on policy, relative to its size as an industry.

----

 

 

______________________