Monday, May 02, 2005

More on Bush Bamboozle

A few more things to keep in mind regarding the latest Bush bamboozle on Social Security (known as the Pozen plan for some conservative dickwad economist who came up with the idea):

Bush is now defining people who are "better off" as anyone earning over $20,000/year. When selling his tax cuts, he defined people who were the "lowest income taxpayers" as anyone earning under $100,000. -- Atrios

The Pozen plan maintains solvency in part by mandating about $2 trillion in transfers from general funds. Note, this does not include any sort of private account plan which would be also require significant up front borrowing in order to cover current beneficiaries. -- Atrios

Absent some clearly defined other plan, disability benefits would of course be cut in a Pozen-related plan. But, more than that, dependent benefits for widows and widowers with dependent children would also be seriously slashed, as they too are formula-linked to retirement benefits. -- Atrios


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