Social Security currently has a $2.5 trillion surplus. Anyone telling you otherwise is lying.
They have created a fake crisis about Social Security not being able to pay full benefits by 2037. So, the answer is to shred benefits now? How does that help?
They propose to cut the top rate from 35% to 23% for the personal income tax, and the corporate tax rate would get cut from 35% to 26%. What an unbelievable joke.
So, you have to cut Social Security and Medicare because you just had to give the rich one more gigantic tax cut? They'll claim they are getting rid of some tax exemptions and credits, but that doesn't come close to making up for the tax cuts they have proposed.
But we have to thank them for making their intentions undeniably clear. This
Deficit-Reduction Commission has nothing to do with the deficit. It never did.
I was always thought it was an excuse to cut Social Security to pay for the tax cuts that went to the rich and ate up the Social Security surplus. It turns out, it's more audacious than that. It cuts Social Security to pay for whole new round of tax cuts for the rich. The balls on these guys.
A new poll out by PPP indicates that when asked how to balance the budget, 43% of real Americans said tax the wealthy, 22% said cut defense spending and only 12% said cut Social Security. They didn't stutter. That's crystal clear.
Thursday, November 11, 2010
Reduce Social Security to Cut the Tax Rate for Millionaires? Why Not!!
I'm so tired of explaining the truth about Social Security, that I'm going to let Young Turk Cenk Uyngur tell it like it is from the Huffington Post: