Social Security Rescue

Why not impose the 6.20 percent individual Social Security tax on all earned income rather than merely the first $90,000?

The conservative Heritage Foundation notes that only about 10.4 million wage earners would be affected nationwide. The Foundation also calculates a total of $1.2 trillion would be raised over 10 years, thus extending the Social Security System's solvency by seven years.

That means about 5 percent of all U.S. workers would pay more taxes to forestall or eliminate Social Security benefits cuts, extend coverage to more people for a longer period of time, and all without increasing the tax burden on 95 percent of wage earners.

It's a no-brainer for the 95 percent. But the GOP won't bite because they say raising taxes on anyone for any reason is something akin to endorsing incest. Better, they say, to cut benefits. For a large portion of the 95 percent.

The two most powerful Republicans espousing this view are President Bush and House Speaker Dennis Hastert. Take a peek at their taxpayer-funded Golden Years plan.

Bush is already eligible for a $189,000 federal pension, an office, staff, postage, some travel, Secret Service protection, and a multi-million-dollar state funeral. Plus an endless stream of five-figure speaking engagements. Plus the book. Plus the movie rights, including final say over who plays him. (Mel Gibson, of course.)

Hastert's congressional pension would depend on a number of arcane factors, but the current average for ex-members with his level of tenure is about $50,000. Plus Social Security. Plus his pension as a former schoolteacher. Plus whatever he makes from speaking fees and product endorsements. (Hey, Bob Dole did it.) He's set.

And the 95 percent?

The typical American worker is a 40-year-old female earning about $22,000 a year. Should she give up waiting on tables at age 67, she would pull in about $11,196 a year at current Social Security rates. (Yeah, benefits are indexed for inflation, but that just keeps her even.) Bill Clinton spent nearly that much taxpayer money on postage last year.

Once everyone wades through the endless and fetid chatter on the issue, Social Security System changes will focus on politics. That means taking care of the constituency. And, for the Republicans, that clearly means the 5 percent, not the 95 percent.