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Home Publications Blogs Beat the Press Answering Steven Pearlstein's Questions on Social Security

Answering Steven Pearlstein's Questions on Social Security

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Wednesday, 25 May 2011 05:25

Steven Pearlstein wants to know:

"how much more of the nation’s wealth will have to be transferred to senior citizens with six-figure incomes before it will be politically acceptable to hold their future Social Security benefit increases to the rate of inflation?"

 

The answer is very little, at least if he means through Social Security benefits. Of course, a very large portion of the nation's wealth is transferred to rich people through financial policy, trade policy, and Federal Reserve Board policy.

Comments (5)Add Comment
how long must we sing this song
written by frankenduf, May 25, 2011 8:09
good call Dean- that quote is ironic if u consider a substitute: "transferred to private corporate wealth before it will be politically acceptable to raise their taxes?"
...
written by Jeff Z, May 25, 2011 9:22
Yeah, and frankenduf's question will get the reporter fired, if not totally chewed out by her editor or producer.
...
written by John Q, May 25, 2011 3:35
"...the nation's wealth is transferred to rich people through financial policy, trade policy, and Federal Reserve Board policy."

And tax policy.
...
written by paine, May 25, 2011 10:31
"senior citizens with six-figure incomes "

this attempt to implant
a a micro bomb
somewhere near decider region
of the public mind
is a wonderous thing
coming as it does from wealth class flaks
the removal of the salary cap on
the extraction
is opposed of course

its not as slacking potential producers
of revenue the affluent
are bashed by the wealthy's hit teams
but as consumers of the transfers systems univwersalist programs

the fond long range hope:

means test social security psyments
and in the goodness of time and
with the ever growing spiteful ire
of the job class squeezed
a complusory national retirement system
goes the way of pre clinton era welfare
ie in say 30 years l

social security ...as we know it

becomes like welfare as we knew it

time line parallel:

war on welfare declared in mid 1960's
won in mid 1990's

war on SS income declared mid '00's

won mid '30's
...
written by paine, May 25, 2011 10:34
i note
2035 would be nice
make it exactly 100 years since
that infernal transfer network passed
thru new deal sausage maker

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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