December 1st, 2006

Wall Street Journal editorializes against the feared Social Security tax increase bargain

Posted in  Entitlement Reform 
Author: Tom Giovanetti || Location: London, England, UK

The Wall Street Journal has a good editorial today dissing the idea of the White House reaching a compromise with Congressional Democrats by agreeing to raise payroll taxes, cut benefit, and lose the personal accounts.

While the Journal endorsed the idea of cutting Social Security benefits by changing the indexing method, IPI does not. We have argued that it is precisely the benefit cut that makes the deal a political killer. The American people are not going to go for a reform that raises their taxes and cuts their benefits.

Especially when it can be done without either benefit cuts or tax increases.