Take from low & middle class, give to wealthy

[protect freedom impeach bush now]

Today's Quote

All of the federal budget surpluses over the past three years and most of the projected surpluses over the next few years can be attributed to one source -- Social Security payroll taxes.

These taxes are particularly burdensome on low and middle income wage earners. Forty-five percent of taxpayers pay more in payroll taxes than they do in federal income taxes. Yet congressional leaders propose to blow the surpluses on cuts in top marginal tax rates, capital gains taxes and inheritance taxes -- taxes that fall almost exclusively on the wealthiest 2 percent of U.S. households.

If these tax cuts pass, Congress will have succeeded in promoting, via the federal tax code, a massive upward redistribution of incomes -- using surplus Social Security and Medicare revenues to finance tax cuts for the very wealthy."

Frank is an associate professor of economics at
Emmanuel College in Boston
Ellen Frank, 12-Feb-01

[alexwcovington]

1. Take from young, give to old

The way things are going, when I retire in 50+ years, there won't be a Social Security program.

Well, at least I have 50 years to fix the problem :P

[Yupster]

3. Medicare is in far worse trouble

than social security, and social security is bad enough.

The worst part is no one wants to do anything to fix them.

[MassDem4Life]

4. the only way to fix it is

to fade it inot a private pension system, ie: IRA or 401k.

The government does nothing efficiently, why would we want it responsible for oue quality of life when we retire?

Tell me one reason why the government should be in the pensions business? And what exactly is the constitutional authority for it?

The truth is that congress has been spending the SS surplus ever since LBJ thought that he could still balance the budget while escalating Vietnam.

[revcarol]

5. The government is not trying to be in the pensions business.

This is insurance, giving people a minimum floor to keep them out of dire poverty. Guess you have not read up on poorhouses or shanty-towns. Your history teacher did a terrible job.

social Security is also for the permanently disabled and those who will never be able to work, like people with severe Down's syndrome.

But of course, everyone should be tied to the stock market's ups and downs, IYHO.And be able to invest in such companies as Enron and Global Crossing without any restrictions.

BTW, I take it you are not a woman.Because if you are, you should know that 80% of women count on Social Security as 90% of their income in their senior years.

YOU NEED TO GET THE FACTS, MAN.

[JHB]

6. "to promote the general welfare" of "We, the People"

The claim that Government does "nothing efficiently" is pure ideology.

[pocoloco]

2. It is the way of Heaven to take from those who have much

and give too those who have little

It is the way of man to take from those who have little
and give to those who have much

Lao Tzu?