Retire Now, Pay Later

Evans, M. Stanton
October 1977
National Review;10/28/1977, Vol. 29 Issue 42, p1241
This article presents information on the U.S. administration's plans to resolve the long-term deficit of the Social Security system. The problem isn't only the size of the imbalance, but the political dynamics which brought it into being. Federal office-holders have long since grasped the electoral wisdom of raising benefits while omitting to raise taxes, which is how the system has drifted into the present quagmire. Getting back to solid ground will require the mechanism to go into reverse, curtailing benefit levels somehow, and raising taxes to pay the bills.


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