Sen. Graham is Right, Mr President!

6 December 2004

Dear President Bush:

I respect your strong principles and most of the time would not expect that you would go against them. However, Social Security Reorm is to important of an issue on which to not consider all financing options. No one likes tax increases, but we cannot do this reform without paying for it upfront and an increase in the payroll tax cap along with closing corporate loopholes is the only fiscally responsible way to do this. Congress does not apply spending controls well and borrowing to finance this plan asks future generations to pay for it down the road plus interest. This is unfair. Sen. Graham is only trying to prevent this by proposing the cap increase,which would be in effect from 12-15 years or until the systm was deemed solvent.

He is conservative like you (as am I) none of us enjoy tax increases or proposing them, but this is the only way to responsibly finance the proposal and we know it will go for what it is intended to go for, the transistion costs because it is money already in the system.You do not have to run for re-election and he does. He is risking his political assets by proposing this, so it deserves serious consideration.

I would like to see this go forward, particualrly Sen. Graham's proposal, because it is really good. We cannot do this without bi-partisan support, he has recognized this I would appreciate it if you would do the same. I completely support Sen. Graham.