The AP reports that Alan Greenspan today urged Congress to cut Social Security benefits in order to keep Social Security solvent. This is only the latest volley from those agitating to burn the village in order to save it. Real social security reform would mean taxing wealth and raising the five-digit maximum income taxed under the payroll tax. But we don’t hear much from either policy about those sorts of plans to “save Social Security.” Mark Weisbrot provides useful perspective in the columns archived here.

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