No Apology: The Case for American Greatness by Mitt Romney

Author:Mitt Romney
Language: eng
Format: mobi, epub
Tags: Political Ideologies, International Relations, Social Science, Government, General, United States, Conservatism & Liberalism, Economic Conditions, Political Science, Essays, Sociology, Public Policy, Business & Economics
ISBN: 9780312609801
Publisher: St. Martin's Press
Published: 2010-03-02T00:29:09+00:00

Sustainable Entitlements

From a mathematical perspective, there are at least four ways one could repair Social Security. First, Congress and the president could raise the Social Security tax rate or apply it to a greater share of an individual’s earnings, or some combination of both. But as Social Security benefits are proportional to what an individual has paid into the system, raising taxes would also raise benefits and compound rather than solve the existing problem. Even if we were to decouple an individual’s Social Security benefits from their contributions—raising taxes to solve our entitlement crisis—we would be saddling the next generation with the very tax burden we are seeking to avoid.

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