" Plus he thinks Social Security contributes ...

2012-01-15T22:33:16.442-08:00

" Plus he thinks Social Security contributes to the deficit--it doesn't..."

That's a bit garbled. If by "Social Security" you mean only the payroll tax and SS payments, then "Social Security" ran a surplus of revenue, but now would be spending it.

But, that's not the story. The government effectively borrowed against the "surplus," and of course Obama cut the revenue by halving the payroll tax.

Social Security is part of all expenditures, and the payroll tax one revenue source (a very regressive one) among many. The payroll tax has been used to pay for ss and non-ss expenditures. There is no "lock box."

Of course ss distributions contributes to the real deficit, if the accounting were honest. SS distributions are cash, not IOUs.

If ss were in good fiscal shape, why do (boomer) Democrats and Republicans keep ordering young people to work longer for less benefit than boomers will receive?

Instead, fully fund Social Security from progressive taxation and completely end the payroll tax.

Comments on Shallow Cogitations: The Half-Million Dollar Senator

" Plus he thinks Social Security contributes ...