Saving Ryan Privatization

Paul Krugman laughs at Rep. Paul Ryan’s Social Security Privatization shenanigans:

Forget-me-not Social Security

So, for a few weeks Rep. Paul Ryan was the toast of the punditocracy; his Roadmap was hailed as the serious Republican response to America’s fiscal problems. But it turns out, predictably, to have been a Potemkin plan: it wouldn’t balance the budget, even after two generations. What it would do is massively redistribute income upward, raising taxes and slashing benefits for most Americans, while providing huge tax breaks for the top 0.1 percent of the population.

Naturally, Ryan’s response to these revelations has been a hissy fit. The Center on Budget and Policy Priorities — which has always, in my experience, been impeccably honest and careful in its work — does the point by point rebuttal.

But I’d like to follow up on small but revealing point: Ryan’s claim that diverting a substantial share of payroll taxes receipts into individual accounts does not constitute partial privatization of Social Security

[Click to continue reading Saving Ryan’s Privatization – Paul Krugman Blog –]

But it does mean privatizing Social Security, just that particular phrase does not poll well, so the Republicans are careful not to use the phrase, and complain vigorously whenever the truth is pointed out.

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