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Reply #180: The pre-premise is where the money comes from. [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
mb7588a Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-18-08 02:38 AM
Response to Reply #176
180. The pre-premise is where the money comes from.
Social Security is paid out to beneficiaries from the trust fund, which is where excess money paid into the system sits until it is needed.

Medicare is financed by payroll taxes (FICA).

Health care would have to be either a trust fund or a government sponsored enterprise system or a payroll tax.

Bailouts are financed by the treasury, which, yes, is a holding house of the government's revenue (these days it's a place that holds money borrowed from other countries...). However, its responsibility is preventing economic crises.

I'm not an economist or government budget/appropriations expert, but the OP was about vastly different, incomparable concepts. I get your point, yes, and this was a clever play on words that really struck at the heart of people who work hard and don't want to pay taxes for irresponsible corporate behavior. The OP would apply if Congress had passed a law to bail out the irresponsible and harmful Wall St. idiots. But that's not what happened.

You're 100000000% percent accurate about the war. We are being robbed to pay for it. We have also never had tax cuts during a time of war.
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