Word: surplus
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...through the haze. The first is Bush's portrait of Gore as a retrograde liberal who wants to patch up the edifice of the Great Society. The second is Gore's portrait of Bush as a faithful servant of the rich and powerful who wants to wire-transfer the surplus into the bank accounts of the upper class, spending "more money on tax cuts for the wealthiest 1%" than he does for new education, health-care and defense programs combined. Are Bush and Gore right about each other? Every campaign serves up a cartoon version of its opponent. But these...
Letting people invest their own money, says Bush, will produce better long-term returns than keeping all Social Security revenues in the hands of the government. So he uses about half the Social Security surplus--roughly $1 trillion--to give young workers the right to divert some of their payroll taxes to private savings accounts. Workers could then invest this money in stocks and bonds...
...TRILLION-DOLLAR HOLE By allowing workers to divert part of their payroll taxes to private accounts (Bush hasn't said how much this would be; the fraction his advisers throw around is one-sixth), Bush cuts the size of the Social Security surplus almost in half, reducing it about $1 trillion. And not using that money for debt reduction adds an additional $300 billion to the government's interest bill. These costs (along with his $1.6 trillion tax cut) mean it will take longer for Bush to eliminate the national debt, leaving less money in the future to guarantee Social...
...clear things up with a quick-and-dirty look at where Al Gore and George W. Bush stand on the subjects that voters say matter: Abortion Campaign Finance Reform Death Penalty Education Environment Foreign Policy Gun Control Health Care National Security The Surplus Launch The Issues tool...
...families with day care and college expenses or elderly parents to care for. Bush tries to spread the savings around to everybody who pays taxes. And that inevitably favors the rich. Bush seems to believe his plan is fair. But it's worth noting that the chunk of the surplus he would hand over to wealthy Americans could have been used to deliver, for example, a more generous Medicare plan for middle-class seniors, who would get a 50% subsidy for premiums under Gore's plan and only a 25% subsidy under Bush's. Does that mean that Bush...