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Thursday, February 03, 2005

Why the Public Has So Much Trouble Understanding Piratization

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As a professor of economics, Atrios has an excellent grasp of the minutae involved in the arguments over Social Security and projections of solvency, and his blog, Eschaton, is a great place to follow the discussion over it. But as one reader, watertiger, commented:
What Atrios says about Social Security:

To understand this, it's important to remember that only initial benefit levels are pegged to the wage index, it only impacts the first year of SS benefits. Subsequent benefits are pegged to the CPI. However, the FICA cap impacts the potential taxes paid by the entire working population (those who are at or above the cap)....

What watertiger hears:

______________________________________________ wage ______________benefits __________________
taxes ____________________cap_________________

I'm trying, A Man, I really am. That's four more words than the last SS post.
I feel your pain, my brother.