I Like It When A Plan Comes Together

The Bush plan is starting to unfold:

PORTSMOUTH, N.H. (AP) -- President Bush says he has not ruled out raising taxes on those who earn more than $90,000 a year to help bolster Social Security's finances.

Under the current system, payroll taxes are paid only on the first $90,000 in wages. Bush has repeatedly said that he opposes raising taxes, but his advisers have been intentionally vague about whether he would also rule out subjecting a greater share of pay to the existing tax.

Asked directly, Bush said that he would not rule out raising that cap, though he does not want to see the payroll tax rate go up. The rate is now 12.4 percent of pay, split between workers and employers.

Step 1 was private accounts. Step 2 will be to increase the payroll tax ceiling (increase SS revenue). Step 3 will be to increase the retirement age (decrease outlays). Step 4 will be to reduce benefits for workers under 50 (decrease outlays).

All together, I think that might work.