Giuliani Willing to Consider Raising Social Security Taxes

So far, he's the only GOP candidate who says he is willing to do so.

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In an Associated Press interview, Rudy Giuliani refused to rule out raising taxes to save Social Security. As the AP quotes Giuliani:

I am opposed to tax increases, but I would look at whatever proposal [a bipartisan panel] came up with and try to figure out how we can come up with a bipartisan way to do it. ... The reality is, I'm more concerned about Medicare and Medicaid than I am with Social Security, because I'm pretty sure we can solve Social Security.

Putting aside for the moment the fact that either raising taxes or cutting benefits makes Social Security's lousy return for younger workers even worse, Rudy's nonrefusal does create one area where he differs with his rivals. Here is what Fred Thompson's website, for instance, says this about Social Security reform: "We need market-based approaches to reform that guarantee benefits for those who need them and embrace personal responsibility and cost-effectiveness without raising taxes." Mitt Romney has been pretty quiet on the issue so far, though his plan to eliminate investment taxes on the middle class would be a sweetener of sorts if SS benefits are cut or taxes raised.

TAGS:
federal taxes
Giuliani, Rudolph
social security

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