The price of reform
The week's news at a glance.
Washington, D.C.
President Bush shocked conservatives last week by saying that he would consider raising Social Security taxes on the wealthy to save the system. Bush has warned that Social Security will start losing money around 2018, as baby boomers retire and start collecting benefits. He has proposed letting young workers divert contributions into individual accounts, but critics have said the plan would cost billions. Bush said that taxing wages above $90,000 a year, which are now exempt, would be “on the table” as Congress debated a fix. House Speaker Dennis Hastert, though, predicted that Republicans would block any tax increase.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Selling sex: why investors are wary of OnlyFans despite record profits
In The Spotlight The platform that revolutionised pornography is for sale – but its value is limited unless it can diversify
-
Garsington Opera opens its summer festival with two 'very different productions'
The Week Recommends A 'fabulous' new staging of Tchaikovsky's The Queen of Spades and Donizetti's fake-love-potion comedy L'elisir d'amore
-
The Rehearsal series two: Nathan Fielder's docu-comedy is 'laugh-out-loud funny'
The Week Recommends Television's 'great illusionist' has turned his attention to commercial airline safety