Democratic Think Tank - Running On Empty
The Democratic party, bereft of ideas since the beginning of W's first term, had an opportunity to receive partial credit for the reform of the Social Security program. With Bill Clinton's admonition in 1998 that there was a looming crisis, the big guns in the Democratic party all chimed in with their concerns, but now, because they blinded by their hatred of Bush, and/or because they are just stuck on obstructionism, they are painting themselves into a corner from which they will be hard pressed to extricate themselves.
Without any new ideas, the Social Security tax must be raised, benefits must be reduced, the retirement age must be increased, or some combination thereof. At this rate, we will begin to receive benefits at age 70, pay a 20% Social Security tax in addition to our already exorbitant income taxes, and receive 40% less benefits. Why don't we just give our entire paycheck to the government?
The Congress has a privatized retirement plan for its members. If it's good enough for them, it must be good enough for the peons.
Posted by Rick | March 9, 2005 01:06 PM