Democrats may deny
- Thread starter Diogenes
- Start date
In 2001, President Bush appointed a bipartisan Commission to Strengthen Social Security in 2001.
Its December 2001 / March 2002 report offered three voluntary personal-account models.
The main ones allowed workers to redirect roughly 2 percentage points or up to 4 percentage points (capped at $1,000 initially, wage-indexed) of the 12.4% combined payroll tax into personal accounts.
The 2005 proposal President Bush actively pushed was also in the 4% of wages range (up to a rising dollar cap).
Democrats howled.; it never received a floor vote in Congress amid opposition from Democrats.
If it had passed, solvency improvements in the actual proposals would have come from progressive price indexing (slowing benefit growth for middle/higher earners).
Retrospective work by Andrew Biggs (American Enterprise Institute), formerly involved in Bush-era Social Security policy) finds that the 2005-style package would have reduced the long-term actuarial deficit by roughly one-third and extended solvency by about a decade
The worst bet you’ll ever make is betting on government.
Democrats may deny.
Its December 2001 / March 2002 report offered three voluntary personal-account models.
The main ones allowed workers to redirect roughly 2 percentage points or up to 4 percentage points (capped at $1,000 initially, wage-indexed) of the 12.4% combined payroll tax into personal accounts.
The 2005 proposal President Bush actively pushed was also in the 4% of wages range (up to a rising dollar cap).
Democrats howled.; it never received a floor vote in Congress amid opposition from Democrats.
If it had passed, solvency improvements in the actual proposals would have come from progressive price indexing (slowing benefit growth for middle/higher earners).
Retrospective work by Andrew Biggs (American Enterprise Institute), formerly involved in Bush-era Social Security policy) finds that the 2005-style package would have reduced the long-term actuarial deficit by roughly one-third and extended solvency by about a decade
The worst bet you’ll ever make is betting on government.
Democrats may deny.
Woodrow Wilson broke the American constitutional system, probably why the textbooks rank him among the greats.
Under his watch the 16th Amendment created the federal income tax and the Federal Reserve Act of 1913 gifted us a permanent central bank.
When the war came, he made criticizing the government a crime under the Espionage and Sedition Acts.
Filmmaker Robert Goldstein got 10 years for a Revolutionary War movie that showed the British unfavorably once Britain became an ally.
The guy who called the Constitution’s separation of powers a “radical defect” because checks and balances made government too weak and inefficient actually delivered.
View: https://x.com/Rothmus/status/2089817754400424191?s=20
Democrats may deny.
Under his watch the 16th Amendment created the federal income tax and the Federal Reserve Act of 1913 gifted us a permanent central bank.
When the war came, he made criticizing the government a crime under the Espionage and Sedition Acts.
Filmmaker Robert Goldstein got 10 years for a Revolutionary War movie that showed the British unfavorably once Britain became an ally.
The guy who called the Constitution’s separation of powers a “radical defect” because checks and balances made government too weak and inefficient actually delivered.
View: https://x.com/Rothmus/status/2089817754400424191?s=20
Democrats may deny.
Who cares, even Democrats showed him the door
