Now There's Even a 'Progressive' Plan to Gut Social Security

By Dean Baker, Center for Economic and Policy Research
Posted on January 20, 2011, Printed on January 21, 2011
http://www.alternet.org/story/149614/

The insiders in Washington really really want to cut Social Security, and they are prepared to say or do anything to do it. Among the latest lines is that they want to make Social Security more "progressive." This sort of rhetoric appeared in a report from the liberal Center for American Progress (CAP) in a plan that proposes substantial cuts in benefits.

To understand what CAP and other proponents of increasing the progressivity of Social Security mean, consider the idea of raising a marginal tax rate paid by many middle-income people from 25 percent to 35 percent. The current 25 percent bracket begins at an income of $34,500 for singles, and $69,000 for couples.