Sunday, December 10, 2006

Social Security: The Solution

My partner (a Democrat who thinks about the issue) says there is an easy way to fix Social Security, one that probably will get both sides upset. It's done in two easy steps:

  • Raise payroll taxes.
  • Cut benefits.
Neither conservatives nor liberals like this perscription. Conservatives don't want to raise taxes and liberals don't want to cut benefits. While it's politically unpalatable, it's better than the solutions both parties have come up with (private plans from the Republicans, and well, nothing from the Democrats).

Liz Mair over at GOP Progress, is upset that the Bush Administration might be considering raising the payroll tax in a deal with Democrats to fix Social Security. She regards this as a bow to big government social conservatism.

Fiscal conservatism does not mean, we never, ever raise taxes. It means being good stewards of the public purse for future generations. As of late the Bush Adminstration and the Republicans in Congress have done a piss poor job of being fiscally responsible. If raising taxes mean keeping this program's fiscal house in order, then we should consider this. And I aslo think we might need to consider cutting benefits, raising the retirement age, and raising the amount of income taxable.

It's time to get serious, stop thinking about ideological solutions and get to work to help future generations.

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