April 13, 2005

Democrats' Rigged SocSec Calculator (tip to Club for Growth)

FactCheck.org explains that the Democrats' online Social Security calculator is rigged; it uses a variety of false and deceptive premises to come to the result that everyone who puts in money loses under the Bush plan. They claimed they used a CBO estimate, but that's incredibly misleading. The CBO did use 3 percent for one part of an analysis on the subject, but actually the CBO predicts an average of 6.8 percent. They did the 3 percent as part of an exhaustive study.

Of course, the Democrats' calculator doesn't mention that Social Security is going to necessitate either massive tax cuts, horrendous benefit cuts or both. No matter how young or old you are on the calculator, it assumes payout at the current retirement age and benefit rate. Pretty damned optimistic, given the drastic shortfall of workers compared to retirees.

Of course, the calculator doesn't let you put in an age of less than 55, because those people's Social Security is sacrosanct. Rather than letting the calculator tell the truth, the Democrats decided not to reassure any old people that they still get their checks. Predictably, they have to resort to fear-mongering and shouting "catfood" rather than just doing the math and realizing that virtually every young, new worker would get hundreds of thousands of dollars in the bank by retirement. This is why the Democrats are, yet again, the real conservatives; fighting for old people and the status quo against young people and a new way of doing things.

So the Democrats have a biased, uninformative and highly misleading "calculator." Toldja so.


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