If we go to page 11 of that report, and under conclusions, No. 2, and the gentleman from Washington can say this back to his son, because of the transition tax, and again, I go back to that, inherent in any move away from pay-as-you-go social security, no cohort now alive could avoid serious economic losses from partly or fully privatizing social security, even under the most unrealistic set of assumptions. All cohorts now living would be substantially better off with even a scaled-back, balanced, pay-as-you-go retirement program.
Karen Thurman: “If we go to page 11 of that report, and under conclusions, No. 2, and the gentleman from Washington can say this back to…”
Editor's note · Context
Discussing the implications of privatizing Social Security during a debate.
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