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Opening Word document…

No matter who supports the plan, the other side will fight it.

Bill Cassidy, 5-9-2023, "ICYMI: Refusing to Reform Social Security Is a Plan — and a Bad One," cassidy.senate.gov, https://www.cassidy.senate.gov/newsroom/press-releases/icymi-refusing-to-reform-social-security-is-a-plan_and-a-bad-one, KL

One of the reasons that reform is difficult is because if either Democrats or Republicans advance a Social Security reform bill, it is easy for the other party to oppose it for political advantage. It is a truism, therefore, that Social Security reform must be bipartisan. And today somehow, despite our polarized politics, Joe Biden and Donald Trump actually share a Social Security plan. This could be good.

Except their plan is to do nothing. Under their “Do-Nothing” plan, Social Security will be insolvent in nine years. As required by law, solvency must be restored by benefit cuts, in this case, of 24 percent. These dramatic cuts will double poverty among the elderly. Alternatively, Congress could increase the payroll tax as much as 27 percent — which is highly regressive and punishes poorer people — to avoid this outcome.

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