Monday, May 09, 2005

Krugman doesn't read the NYT...

...or at least doesn't know how to read charts.

Today’s column: “But defenders of Mr. Bush's Social Security plan now portray benefit cuts for anyone making more than $20,000 a year, cuts that will have their biggest percentage impact on the retirement income of people making about $60,000 a year, as cuts for the wealthy.”

Seems like its more like the ones making $90,000 (the highest income taxed by social security) according to the chart accompanying a May 1 NYT article entitled, "Social Security: Help for the Poor Or Help for All?" (Through Lexis, reg. req.)

So, you are telling me that people paying the most social security taxes recieve the biggest cuts? I would venture so far as to call that progressive; but i admit, i'm no professor of economics.

[Hat tip: Donald Luskin]

1 comment:

Dr. Krugman said...

Respect mah authoritah!