Numbers Games
by matt at 6:00 am on April 24th, 2007 in Media, Social Security
*I just realized that this image (from a prior Social Security post) is now totally obsolete. Shame, that.
The Wall Street Journal told readers today that it would take a 16 percent increase in Social Security taxes to make the program solvent over its 75-year planning period, according to the SS trustees. Most people don’t know that the current size of the SS tax is 12.4 percent (6.2 percent on both the employee and employer), so they probably thought that it would take a tax increase of 16 percentage points rather than 1.95 percentage points under the trustees projections. Why not try to inform readers instead of scare them.
Seriously. I really don’t have the energy to relive the first half of 2005 again.
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