This was too awesomely wacky not to quote. George Gilder on the Wall Street Journal op-ed page:
Lower tax rates will yield the additional revenues and borrowing power we need to sustain social programs for the aged for decades to come. As a pay-as-you-go transfer scheme, Social Security is currently working fine. But we have to stop driving aged workers out of employment through implicit Social Security taxes on their incomes. As a key first step, we need to reduce the payroll tax by at least a third -- at least to the degree we are pretending to build up "reserves" for the future. Lower payroll taxes will mean more jobs and income for Americans of all ages, and build up the real capabilities as opposed to the mere accounting balances of the U.S. economy. Ideally, as part of a flat tax program, we should eliminate the payroll tax altogether. Make the Democrats explain why they oppose that, not continue to posture on spending cuts, which always turn out to focus on defense.
You rarely run into a supply-side true believer these days, but it's a refreshing diversion when you do. We'll fund Social Security by lowering general tax rates and eliminating the payroll tax entirely! With absolutely no money coming into the federal treasury, Social Security's financial footing will be secure. Explain your objections to that, defeatocrats!
