Monday, May 09, 2005

An Intellectual Pistol-Whipping

As it appears that David Brooks is able to discern little more than shiny objects, today's Krugman will not cause him much pause. John Tierney, apparently able to read little more than White House policy brochures, would have a Coulter-like bleating fit. For the Professor takes no prisoners.

Hell hath no fury like a scammer foiled. The card shark caught marking the deck, the auto dealer caught resetting a used car's odometer, is rarely contrite. On the contrary, they're usually angry, and they lash out at their intended marks, crying hypocrisy...

...Let's consider the Bush tax cuts and the Bush benefit cuts as a package. Who gains? Who loses?

Suppose you're a full-time Wal-Mart employee, earning $17,000 a year. You probably didn't get any tax cut. But Mr. Bush says, generously, that he won't cut your Social Security benefits.

Suppose you're earning $60,000 a year. On average, Mr. Bush cut taxes for workers like you by about $1,000 per year. But by 2045 the Bush Social Security plan would cut benefits for workers like you by about $6,500 per year. Not a very good deal.

Suppose, finally, that you're making $1 million a year. You received a tax cut worth about $50,000 per year. By 2045 the Bush plan would reduce benefits for people like you by about $9,400 per year. We have a winner!

Thank you Professor.

Once again, the opponents of Bush's scheme use the Administration's own plan to beat them about the head with it. And all the White House pablum pushers can do is respond in generalities and say, "Oh yeah, show us your plan?"

I always thought "our plan" was the Social Security Act, coupled with sound fiscal policy?

I'm just old fashioned that way.