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Killing Social Security Softly with faux Kindness

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  • L. Randall Wray

Abstract

The President's commission claims that the Social Security program is "unsustainable" and requires a complete "overhaul." It also claims that the program is a bad deal for women and minorities. However, any honest accounting of all Social Security benefits finds that the program is a good deal for disadvantaged groups. Social Security will become a worse deal only if tomorrow's politicians slash benefits-as the commission presumes they will-or increase the taxation of the disadvantaged. A suspicious person might conclude that the reason the report uses such scare tactics is because its authors fear that future Congresses will indeed keep their promises to maintain Social Security. Hence, the urgent need to privatize today.

Suggested Citation

  • L. Randall Wray, "undated". "Killing Social Security Softly with faux Kindness," Economics Policy Note Archive 01-6, Levy Economics Institute.
  • Handle: RePEc:lev:levypn:01-6
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    References listed on IDEAS

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    1. Walker F. Todd, 2013. "The Problem of Excess Reserves, Then and Now," Economics Working Paper Archive wp_763, Levy Economics Institute.
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    Cited by:

    1. Christopher Niggle, 2003. "Globalization, Neoliberalism and the attack on social security," Review of Social Economy, Taylor & Francis Journals, vol. 61(1), pages 51-71.
    2. Thomas L. Hungerford, 2003. "Do Workers with Low Lifetime Earnings Really Have Low-Earnings Every Year? Implications for Social Security Reform," Labor and Demography 0309007, EconWPA.

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