General Discussion
In reply to the discussion: They caved! It's a testatment to how far we've fallen that [View all]JDPriestly
(57,936 posts)to the general fund -- where Social Security recipients have to compete with the lobbyists for the defense industry, the oil industry, etc.
The payroll tax cut is a horrible idea. It undermines the structure of Social Security. It's like a nest of termites in the beams supporting Social Security. That is because it changes the source of the funding for Social Security from taxes dedicated to the purpose of Social Security to taxes that are up for grabs from the most aggressive and most politically savvy.
Shame on Obama for undermining Social Security. And shame on anyone who doesn't think this through and see what is beneath it all.
Pete Peterson headed the committee that chose Geithner for the Fed. Pete Peterson virtually leads the Republican attack on Social Security. And now -- who has Obama appointed to the Treasury Dept., the very department that is supposed to safeguard the Social Security Trust Fund? Geithner.
This is no conspiracy theory. This is reality. This is a total attack on Social Security and on seniors. And it is being done to force people to entrust their money to the crooks on Wall Street.
And, of course, Obama also tells you that the Wall Street crowd didn't break any laws.
How about laws against fraud? They have been around for a long, long time. You don't need any special legislation to enact them. Lying to investors about the investments you are selling is fraud. Knowing a product is bad, shoddy, of poor quality and selling it as first-rate anyway is arguably fraud -- and I bet virtually any jury would agree with me.
This payroll tax cut is a trick -- a sellout to Wall Street.