Something to Consider

As some of you probably know, Florida Representative Clay Shaw, Jr. of Florida (the Gold Coast to be precise) has put forward a compromise plan on Social Security Privitazation. His plan "centers on voluntary retirement savings accounts added to Social Security that would not be financed by payroll taxes, as they would under Mr. Bush's plan. Under Mr. Shaw's plan, accounts would be financed by a refundable income tax credit, capped at $1,000 a year, and would require substantial government borrowing."

Paul Krugman, in his latest column, takes shots at this compromise measure. I agree with some of his concerns (how much more money do we really want to borrow?), but I'm not sure about the final lines of his article.

The important thing to remember is why the right wants privatization. The drive to create private accounts isn't about finding a way to strengthen Social Security; it's about finding a way to phase out a system that conservatives have always regarded as illegitimate. And as long as that is what's at stake, there is no room for any genuine compromise. When it comes to privatization, just say no.

I completely agree that the right wing is being pretty disingenious when they claim to want to save Social Security. That said I'm not sure we can't have some sort of compromise down the road.