Two birds, one stone

September 15, 2010 at 6:33 pm | Posted in Economy, politics straight up, Reality Bites | Leave a comment
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In their take-down of more stupidity by Megan McArdle, Hunting of the Snark included this easy-to-understand comparison from a Center on Budget and Policy Priorities report titled What the 2010 Trustees’ Report Shows about Social Security:

The 75-year Social Security shortfall is about the same size as the cost, over that period, of extending the 2001 and 2003 tax cuts for the richest 2 percent of Americans (those with incomes above $250,000 a year). Members of Congress cannot simultaneously claim that the tax cuts for people at the top are affordable while the Social Security shortfall constitutes a dire fiscal threat.

In another report titled “Social Security and Poverty Among the Elderly,” CBPP reports:

Without Social Security benefits, 52.6 percent of elderly women would have had incomes below the poverty line in 1997. Social Security reduced the poverty rate for elderly women to 14.7 percent.

Staying home on election day is not an option, kids.


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