{"id":15,"date":"2005-02-07T15:12:51","date_gmt":"2005-02-07T19:12:51","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/anderkoo\/2005\/02\/07\/the-social-security-shell-game\/"},"modified":"2005-02-07T15:12:51","modified_gmt":"2005-02-07T19:12:51","slug":"the-social-security-shell-game","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/2005\/02\/the-social-security-shell-game\/","title":{"rendered":"The Social Security Shell Game"},"content":{"rendered":"<p><a name='a301'><\/a><\/p>\n<p>William Shipman&#8217;s Op-Ed piece in today&#8217;s Globe, &#8220;<a href=\"http:\/\/www.boston.com\/news\/globe\/editorial_opinion\/oped\/articles\/2005\/02\/07\/no_half_way_measures\/\">No Halfway Measures<\/a>,&#8221;<br \/>\ngoes only halfway in comparing plans for Social Security reform. He<br \/>\nlampoons<br \/>\nthe idea of investing Social Security in government bonds, or even<br \/>\ngovernment-managed funds, as handing out $1 million<br \/>\nbonds to everyone, then taxing each for $1 million. But Shipman fails<br \/>\nto admit that President Bush&#8217;s plan plays the same shell game. By<br \/>\ntaking tax restoration off the table, Bush must widen the<br \/>\nfederal deficit to fund the transition to private accounts. The<br \/>\nresult:<br \/>\nBush borrows <span style=\"font-style: italic;\">my<\/span> money (as a<br \/>\n29 year old, I&#8217;ll be stuck paying off the deficit) and then puts <span style=\"font-style: italic;\">less<\/span><br \/>\nof it in my Social Security account &#8212; all so he can give Boomers tax<br \/>\ncut windfalls today and guarantee their retirement benefits tomorrow. \n<\/p>\n<p>Shipman&#8217;s advice to the charlatans who play these games is &#8220;better get<br \/>\nout of town.&#8221; Indeed, by the time our generation realizes we&#8217;ve been<br \/>\nhad, Boomers like Bush and Shipman will be out of the picture, leaving their children to work off their debts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>William Shipman&#8217;s Op-Ed piece in today&#8217;s Globe, &#8220;No Halfway Measures,&#8221; goes only halfway in comparing plans for Social Security reform. He lampoons the idea of investing Social Security in government bonds, or even government-managed funds, as handing out $1 million &hellip; <a href=\"https:\/\/archive.blogs.harvard.edu\/anderkoo\/2005\/02\/the-social-security-shell-game\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":271,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[],"class_list":["post-15","post","type-post","status-publish","format-standard","hentry","category-politics"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/posts\/15","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/users\/271"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/comments?post=15"}],"version-history":[{"count":0,"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/posts\/15\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/media?parent=15"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/categories?post=15"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/anderkoo\/wp-json\/wp\/v2\/tags?post=15"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}