Social Security

Paul Krugman for President!

I've seen Krugman appear on various talk shows, and unfortunately he doesn't quite have the statesman-like demeanor of a President. But, boy is that guy very knowledgeable, bright, and he's a great writer.

Social Security is a really boring topic, but it's an important topic. Understanding what Bush has done with tax cuts and has proposed for Social Security gives you a good idea of which team he's on.

Link:

Let's consider the Bush tax cuts and the Bush benefit cuts as a package. Who gains? Who loses?

Suppose you're a full-time Wal-Mart employee, earning $17,000 a year. You probably didn't get any tax cut. But Mr. Bush says, generously, that he won't cut your Social Security benefits.

Suppose you're earning $60,000 a year. On average, Mr. Bush cut taxes for workers like you by about $1,000 per year. But by 2045 the Bush Social Security plan would cut benefits for workers like you by about $6,500 per year. Not a very good deal.

Suppose, finally, that you're making $1 million a year. You received a tax cut worth about $50,000 per year. By 2045 the Bush plan would reduce benefits for people like you by about $9,400 per year. We have a winner!

There is oh so much more in his column.

It's unfortunate that this country could not elect a man like Krugman to it's highest office. The Europeans could. American's seem to like to vote against their own best interest for some reason. Hmmm.. I think it's because they are stupid.