Wednesday, April 06, 2005

Social Security's Startling Plan

Economist Robert Samuelson notes a little noticed tidbit in the recent report of the trustess of Social Security:
". . . .Here's one startling fact that emerges from a close examination of the reports: by 2030, the projected costs of Social Security and Medicare could easily consume -- via higher taxes -- a third of workers' future wage and salary increases. We're mortgaging workers' future pay gains for baby boomers' retirement benefits."
I've got an idea. Let's figure out how we can talk the country's young college graduates into wanting to be a part of a government program that plans to take from them a 1/3 of their future salary increases. If we can do that, then we don't have to worry about reforming Social Security any time soon.

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