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February 11, 2005

The Decembrist Directs Us to the Center on Budget and Policy Priorities

Mark Schmitt writes:

The Decembrist: The Privatization Tax: I am in awe of the work that various analysts, but particularly Jason Furman of NYU and the Center on Budget and Policy Priorities have done to figure out exactly how the Bush Social Security plan would work, in the absence of any official details proposal, by just drawing on what's available and from on-background briefings by senior adminstration officials. (And speaking of the Center on Budget and Policy Priorities, congratulations on a new website and a new logo. It looks great. And how fitting that it should arrive at this moment when the Center's contribution is even more critical than usual.)

And I'm glad that the Senate Democrats could so quickly grab the import of Furman's work proving that the entire value of one's private account is likely to be taken away at retirement and dubbed it 'the privatization tax.' This isn't just a bit of clever pejorative framing... In the article I linked to a couple days ago... two Heritage Foundation staffers... discuss an 'opting-out tax' as part of the system...

Posted by DeLong at February 11, 2005 04:15 PM