In the recent Business Week, I was disappointed to read
Laura D’Andrea Tyson’s article on Social Security. Laura has joined the
Political Hack’s Club. The PHC has Paul
Krugman as chairman. Krugman will write
anything his upper Westside Lefty fundamentalists ask him to write. I think of Krugman (whom I used to respect) as Michael Moore with an
economists’ brain.
Laura argues, in Business Week, against the Private Social Security idea on the basis that raising the payroll tax by 2% and fiddling with the index calculation would eliminate the problem. Duh? We know that, and we reject a tax increase, the 1950 solution to any problem.
She says nothing about the main reason for the new Social Security proposal, to create more savings and stimulate economic growth. Laura, you should be ashamed. You were part of the 1990’s Democratic attack on Social Security that convinced everyone under 35 that the system would be bankrupt for them. Leave the PHC and discuss the issue of private savings and economic growth.