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Originally Posted by Superbelt
It seems odd how he's pushing for a progressive taxation system for Social Security now though.
I thought he was against social redistribution???
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My take on Bush's SS plan is that it is yet another method of deferring costs. In this case, the plan effectively translates into a marginal tax increase spread out over 40 years for the upper and middle classes. That is the trade off for Bush. The benefit is that he converts the system to privatization - which will nicely line the pockets of the upper class he just marginally increased taxes for, thereby more than offsetting that tax increase. While the middle class remains slightly screwed.
It's par for the course. Rob from the middle, give to the top, then turn around and claim you're helping everyone (and in this case, laughably, that you're increasing benefits to the lower class when you're actually not changing benefits to the lower class).
From what I gather, the present SS system falls to 75% coverage in 2040ish while Bush's system "provides" 60% - 70% coverage in 2040ish.
And here I always thought "fixing" something meant making it better.