On May 6, 2009, at 11:59 AM, Michael Pollak wrote:
> You don't think there's any chance a substantial part of it will be
> raising the tax base of FICA so rich people pay more? That was one
> of Obama's campaign points; it would be in the direction of less
> suckiness; and the first thing that Steny said in that Note excerpt
> was "more revenues."
>
> As for higher retirement age, some of that would simply be adjusting
> accounting to reality, no?
We'll see. Steny was making a list of possibilities. Of course, soaking Steve Schwarzman is always an option. But do you really think that raising the FICA ceiling significantly is going to get through Congress? And do you really think that bringing up the whole topic of SS reform is anything but red meat for the austerity crowd? This invokes some version of Matthew Dowd's law - that if you argue against us and you're using our language, then we're still on top.
Doug