Op-ed by Andrew Biggs, includes “… How can such a large tax hike do so little for Social Security’s solvency? Nearly two-thirds of the new tax revenue would be spent on expanding benefits rather than fixing the existing financial hole. The Biden plan’s expanded benefits for low-wage workers and widows make sense, but increasing cost-of-living adjustments even for high-income retirees is unnecessary. … Levying higher taxes on upper-income households to pay higher benefits to those same households makes little sense …”
Read the full article on: The Wall Street Journal