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June 29, 2005

No surprise here:

Senate Finance Committee Chair Chuck Grassley, R-Iowa, on June 28 told reporters that GOP committee members have reached a consensus on Social Security solvency that includes an increase in revenues.

They telegraphed the probability of a tax increase some time ago. But they didn't say they would hide it:

Grassley said the revenue increase will be done in such a "roundabout" way that people won't even notice an increase in taxes. While he wouldn't go into detail, he said the revenue increase will be combined with adjustments to how benefits are calculated and an adjustment in the retirement age.

A secret tax increase? How do you do that? "Hey, look! A UFO! No, I didn't take your wallet, you must have lost it."

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