Wednesday, February 09, 2005

Social Security Reform: It's just not that hard to understand

It's not just us here at the Social Gospel Today preaching from the pulpit - the American people understand, too. A new CNN/USA Today poll demonstrates that the public supports not only means testing for Social Security (the idea, which we've advocated, that the wealthy should get less benefits or no benefits) but also that we should raise payroll taxes on the wealthy to shore it up further:
More than two-thirds of 1,010 adults contacted from Friday to Sunday said it would be a good idea to limit benefits for wealthier retirees and for higher income workers to pay Social Security taxes on all their wages.

I thought the idea of means testing was radical, but apparently it isn't. The "double whammy" suggested by the poll - means testing for benefits and higher payroll taxes on the wealthy - would surely be more than enough to "secure" Social Security for generations to come. Check out the CNN piece.

2 Comments:

At 10:02 AM, Blogger DLW said...

I suppose it would depend on what one means by limiting benefits.

Hardly anyone with a half a brain is going to want their own benefits reduced and so they'd prefer that they be reduced for the wealthy rather than themselves.

Explain to me what it means for higher income workers to pay SS taxes on all their wages. I've heard that the payroll taxes are regressive but haven't studied the details.

dlw

 
At 8:07 PM, Blogger Marcus said...

Well, I like the second part, which would make SS more redistributive in a downwards direction. But the first part may cut off too many people and thus create too many anti-SS voters. It depends on where you draw the line, eh?

Anyway, glad to see you on the right side, JJ. Of course, I expected I would.

 

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