"Another issue is whether the Social Security tax is really a tax at all (Ed: Whaaaaat?). A case can be made that it is really part of a worker’s compensation (Ed: oh...okay...), rather than a reduction of it – because the workers generally get back all of their contributions, plus more, in the form of Social Security benefits in retirement."Let's follow this logic then: It's okay to take out FICA now because we're going to "get it back" decades from now so that should make us feel better and go out and spend money we don't have today? Am I missing something?
This from Bartlett on top of the proposal out of Yale's Shiller that Mike posted earlier today is now strike 2 for today.... all we need now is Krugman to chime in this evening with another losing proposal and it will be 3 strikes, 'you're out' for the out of paradigm crowd today..... one tough day!