OPINION:
Stephen Moore is correct in calling the proposal by Sens. Bernie Moreno and Elizabeth Warren to address the looming Social Security shortfall one of the largest tax increases in U.S. history (” Bernie Moreno’s plan to wreck Social Security and America’s economy,” Web, June 25).
But Mr. Moore fails to offer any solution other than recycled talking points from the failed President George W. Bush plan of 2004-2005. That plan was to allow younger workers to set aside at least a portion of their payroll tax money into personally owned accounts. It failed over 20 years ago and politicians on both the left and right have largely ignored the looming shortfall ever since.
Mr. Moore’s suggestion that a failed proposal will somehow work today is an unserious response to a serious problem. And by failing to propose any alternatives, Republicans are conceding the argument that the only real way to shore up Social Security is to raise payroll taxes.
Mr. Moore also does a disservice to his readers by failing to address the main thrust of the Moreno-Warren plan. The elimination of the income cap on payroll taxes seems more than fair, because why should lower-earning Americans pay the tax on 100% of their income when someone who makes $500,000 a year only has to pay it on 40% of their income?
As a matter of mathematical reality, the elimination of the tax cap (or at least a hefty increase beyond its current limit) seems likely. But to keep any sort of limit, Republicans must offer some counter-proposals that have a chance at passing, such as:
- Roll back the One big Beautiful Bill Act benefit of no tax on Social Security for Americans living overseas;
- Reduce or adjust the automatic annual increase of benefits; or
- Repeal the ill-timed Social Security Fairness Act of 2025, which was a huge giveaway to retired federal workers.
Even though it is hard to see, Social Security has been a bad deal for most Americans (anyone who is self-employed and has had to pay the entire tax themselves knows that). But it’s a plan we must live with. So the line in the sand that Republicans should fight against is any increase in the base tax rate.
JAMES RYAN
Silver Spring, Maryland
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