SOCIAL SECURITY COMPROMISE?
BusinessWeek says Congress and the White House are inching toward a compromise on Social Security. Private accounts will not be part of the plan. Instead, the compromise would include (a) reducing the rate of growth in benefits paid to upper-income beneficiaries (as President Bush has suggested) and (b) sharply increasing taxes on upper-income taxpayers (i.e., those that earn more than $80,000 $90,000 per year).
In other words, Republicans would give Democrats almost everything they want and get virtually nothing in return. Sounds like the kind of plan John McCain and other Senate “mavericks” will enthusiastically support.
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