For many years Republicans have argued Americans would do better investing Social Security contributions in the stock market rather than in Social Security. As the stock market plummets – adjusted for inflation, market indices are approaching where they were at the start of 2000 – the absurdity of the Republican argument becomes obvious. In fact, it’s precisely because so much of the limited savings of baby boomers -- in 401(k)s, IRAs, and pension plans -- have gone nowhere that we need to expand Social Security benefits rather than contract them, and pay for the expansion by eliminating the cap on income subject to Social Security payroll taxes.
What do you think?
Reich
What do you think?
Reich
