tag:blogger.com,1999:blog-7334408760351487944.post799170224384216586..comments2023-11-12T06:43:00.060-05:00Comments on Notes on Social Security Reform: AP: Details missing from Obama's Social Security planAndrew G. Biggshttp://www.blogger.com/profile/16617460431856611873noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7334408760351487944.post-33300501480971400152008-07-28T11:07:00.000-04:002008-07-28T11:07:00.000-04:00George, You're right that McCain and Obama differ ...George, You're right that McCain and Obama differ on Social Security. However, things have moved a bit to the center lately both on policy and on process. <BR/>Obama's proposal has moved from essentially all taxes and no changes to benefits or the retirement age, to a smaller tax increase (probably a 4% surtax on earnings above $250k, which would solve around 15% of the 75-year deficit) coupled with a commitment to work with Congress on an overall package.<BR/><BR/>McCain has also shown more flexibility. Previously, he'd ruled out any tax increases, which implied achieving solvency only through benefit cuts or increases in the retirement age. Yesterday on ABC he stressed the need for compromise and that everything, including tax increases, should be on the table.<BR/><BR/>There are still obviously differences, which is a good thing, but both sides seem to realize and any viable reform package will have a number of different elements to it, which inevitably will be up for negotiation.Andrew G. Biggshttps://www.blogger.com/profile/16617460431856611873noreply@blogger.comtag:blogger.com,1999:blog-7334408760351487944.post-79856652885874687492008-07-28T09:33:00.000-04:002008-07-28T09:33:00.000-04:00While it's true and expected that neither has offe...While it's true and expected that neither has offered a full and detailed plan, the <A HREF="http://votegopher.com/issueHomePage.php?issue=16" REL="nofollow">different approaches each candidate would take</A> are clear. Obama would focus on raising the payroll tax on individual income above $250,000 (and his advisors say the new rate on that income would total 4% or less), while McCain has said he will reduce future benefit growth and implement personal accounts. The differences between these approaches should not be downplayed.Anonymousnoreply@blogger.com