THE SOCIAL SECURITY SCARE One of the best kept secrets in Washington is that the Social Security scare has been based on unrealistic economic growth projections. Robert Reich, who as Secretary of Labor signed off on these gloomy projections, now tells the Left Business Observer: "I think that at the earlier part of the 90s those extraordinarily safe and conservative projections were not unreasonable. But now they're foolish. We've had a number of years now of find people phone number & address free search - no fee people search economic growth over 4%; even if the economy slows down it's very unlikely that growth will be under 2.5 or 2.6% a year, and with that pace of growth Social Security is a non-issue. It won't be a problem. We'll be able to pay all our Social Security obligations." LBO said to Reich, "Nobody says that in public." Replied Reich, "I've said it in public on at least 20 occasions, including national television and radio. It ought search prices people search to be said more often." Indeed so, and a good place to start would be for major media to admit they were complicit in creating the Social Security hysteria of the 1990s. LEFT BUSINESS OBSERVER: http://www.panix.com/~dhenwood/ For six years or so, TPR has argued that a good way to cover any shortfall in the Social Security trust fund is to make everyone who wants to privatize SS pay withholding tax on all their income above the current $72,600 cap. people search people search Now it looks as though the idea may be catching on. The Social Security Administration has studied the matter and found that eliminating the cap would cover 98% of Social Security costs for the next 75 years. Under this plan, three- quarters of the burden for Social Security would fall on persons earning over $52,000 a year. Proposals to reduce benefits, on the other hand, would fall most heavily on the bottom fifth of the population. investigate anyone people search Senator
