The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
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Social Security Reform Thursday: Week Sixty-Eight -- Miscellaneous Facts.
Thursdays are good days for reform, because they fall between Wednesdays and Fridays.
That's why WILLisms.com offers a chart or graph, every Thursday or so, pertinent to Social Security reform.
This week's topic:
Why Reform Last Year Was So Imperative.
Fact: The first Baby Boomers will start to collect benefits in 2008, causing Social Security costs to rise.
Fact The Social Security cash surplus will peak at $88 BILLION in 2008 (in 2006 dollars). Each year afterwards, declining Social Security surpluses will create a bigger problem for the overall federal budget. In other words, the mask comes off, and we'll no longer be able to conceal the warts on the budget.
Fact: If the next President serves for two terms, he will serve through 2017.
Fact: From 2009-2017, the number of retirees receiving Social Security will grow by 23.9%, the number of workers by only 4.3%. In other words, the number of retirees will grow more than five times faster than the worker population.
A visual of that:
Fact: Nobody, even among the most aggressive reformers, wants to touch benefits for America's seniors. Because we missed such a prime opportunity in 2005/2006, the next administration and Congressional leadership will thus find it nearly impossible to uphold that principle without painful tax increases.
Fact: At the end of the next President’s second term (in 2017), Social Security's costs will become greater than Social Security's tax revenue.
Fact: From 2009-2017, the cost of paying Social Security benefits will rise, as a percentage of worker wages, by 17%.
Fact: If we did modernize and reform Social Security today, future Social Security benefits could rise in real terms without raising tax rates or raising the payroll tax cap, now or ever.
Fact: Assuming our next President is a two-termer, early in his second term, it will no longer be possible to maintain solvency without tax increases, even if all future workers’ benefits grow only at the rate of inflation (reminder: they grow faster than inflation). Were reform delayed that long, we must either start to cut benefits in real terms, or taxes must rise.
Previous Reform Thursday graphics can be seen here:
-Week One (Costs Exceed Revenues).
Posted by Will Franklin · 18 January 2007 08:04 PM
Correct me if I'm wrong, but is it true that the privitazation plan would have been optional? That is, would people have been able to choose to privatize or continue with the old method?
Posted by: JohnJ at January 18, 2007 09:39 PM
johnj, I believe you are right.
Posted by: zsa zsa at January 20, 2007 04:12 PM