Performance Budgeting and Management White Papers
An Analysis of Senator Graham's Social Security Plan
Overview The Graham plan has serious shortcomings. It would result in deep cuts in Social Security benefits, yet do little or nothing to improve the government's long-term fiscal imbalance. The plan rests on large-scale borrowing that would increase deficits and the national debt for decades. In addition, embedded in the plan is a major new tax break that would establish a new tax-shelter opportunity for high-income households. Raising the cap on the amount of wages subject to the Social Security payroll tax, as Senator Graham has recently suggested, could ease some of these problems, but only to a modest degree.
| Publisher | Center on Budget and Policy Priorities | File Format | PDF, requires Acrobat Rdr 5 |
|---|---|---|---|
| Date Published | February 2005 | ||
| Format | White Papers | ||
| Topics | |||
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