A Known Fallacy Is Being Used In The Social Security Argument

Paul Krugman

Photo: Dave Shankbone via Flickr

Dean Baker is angry at the Washington Post for spreading disinformation about Social Security. He’s right, of course — and it’s shocking that a well-known fallacy is the subject of a “news analysis” that purports to inform readers.You see, the WaPo makes a big deal of the fact that Social Security is currently taking in less in payroll taxes than it’s paying out in benefits. Yet this means nothing, except as a favourite point used to create confusion by those who want to kill the program.

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