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.