Monday, January 03, 2005

Journalist Alert

So you don't get exposed as an idiot in the coming weeks, let me give you a bit of information. It isn't just the initial level of Social Security benefits upon retirement which are determined by the wage index. The wage index is also what determines the income cap which sets the maximum income level upon which SS taxes are levied.

Cutting the rise in benefits without cutting the rise in the income cap is just another way to tax people of moderate incomes to pay for the tax cuts for the wealthy.