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Social Security Crisis? Not If Wealthy Pay Their Way with Higher Income Taxes
The Christian Science MonitorLink to more items from this source
[Opinion]
Jan. 28, 2005
Excerpt: So this was the implicit bargain in the reforms recommended by Greenspan and signed into law by Reagan: From 1983 to 2018, low- and middle-income earners would pay excess payroll taxes. This allowed income taxes to be kept low, and primarily benefited high earners. Then, beginning in 2018, instead of raising payroll taxes to pay for baby-boomer retirement benefits, Social Security would begin selling its bonds back to the government. To pay for those bonds, income taxes would be[.]

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