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.
Continue reading for free
We hope you're enjoying The Week's refreshingly open-minded journalism.
Subscribed to The Week? Register your account with the same email as your subscription.
Sign up to our 10 Things You Need to Know Today newsletter
A free daily digest of the biggest news stories of the day - and the best features from our website
6 tips to shop online safely this holiday season
The Explainer Lower the chances of credit card fraud spoiling your holidays
By Becca Stanek, The Week US Published
The daily gossip: Anya Taylor-Joy leads epic 'Furiosa' trailer, Felicity Huffman felt she 'had to break the law' in college admissions scandal, and more
The daily gossip: December 1, 2023
By Brendan Morrow, The Week US Published
What's Qatar's role in the Middle East conflict?
Today's Big Question Doha hosts both Hamas and a U.S. military base. That puts it at the center of the conflict in Gaza.
By Joel Mathis, The Week US Published