Thursday, April 16, 2015
GOP New Jersey governor Chris Christie proposes means testing Social Security for retirees even now
GOP governor of New Jersey, Chris Christie, informally running for president despite toll-gate, now has a modest proposal worthy of Jonathan Swift. Phase out Social Security benefits for retirees making over $80000 a year in other income. Charles Lane has the story in the Washington Post today here. You could propose this based on total assets, too.
Normally, the GOP handles Social Security by suggesting that high earners pay FICA on all their wages, just like everyone else. But of course that gets them more benefits later.
Robbing wage earners to pay for retirees doesn’t make sense when some retirees are wealthy. So why not go to gradual privatization? Why make something I paid in to subject to expropriation, ex post facto? Of course, you have to pay for the transition.