{"id":717,"date":"2005-02-07T05:26:15","date_gmt":"2005-02-07T05:26:15","guid":{"rendered":"0"},"modified":"2006-09-28T12:09:00","modified_gmt":"2006-09-28T12:09:00","slug":"armed_liberal_a","status":"publish","type":"post","link":"https:\/\/marcdanziger.com\/?p=717","title":{"rendered":"Armed Liberal Agrees Unqualifiedly With Yglesias: Thousands treated For Shock"},"content":{"rendered":"

Not much to add to Matthew’s comments on a better plan for Social Security<\/a>. His core fix:<\/p>\n

* Get everyone into the system (including those working in the cash economy);<\/i><\/p>\n

Not bad, but possibly not enough. I’d add his “painful” prescriptions as well:<\/p>\n

* Uncap the payroll tax, while lowering the rate somewhat<\/i>. I’d actually take that a little further, and credit back payroll taxes for low-income workers, who get somewhat clobbered by them. But we ought to be able to – once we’ve got everyone earning wages into the pool – largely manage the solvency of the program by tuning the current tax rate.And I’d add further increases in the income taxes higher-income elderly pay on SSI income; I’d probably look at gross income, rather than AGI, to eliminate the tax-exempt bond effect.<\/p>\n

Now many people will run around in circles, because this violates their notion of Social Security as a pension plan.<\/p>\n

As I’ve noted<\/a>, it’s not and never has been; it’s a social welfare program targeted at a specific set of ‘deserving’ recipients.<\/p>\n

Ideally, we’d do things (like create a layer of national retirement savings) to keep people from needing any welfare, and everyone would means test out of the program.<\/p>\n

I’m not going to be holding my breath on that one.<\/p>\n","protected":false},"excerpt":{"rendered":"

Not much to add to Matthew’s comments on a better plan for Social Security. His core fix: * Get everyone into the system (including those working in the cash economy); Not bad, but possibly not enough. I’d add his “painful” prescriptions as well: * Uncap the payroll tax, while lowering the rate somewhat. I’d actually […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/717"}],"collection":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=717"}],"version-history":[{"count":0,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/717\/revisions"}],"wp:attachment":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}