Today's right-wing Republicans want Americans to think that Social Security is the reason we have such a large deficit. That is a lie -- and even their conservative icon Ronald Reagan knew that. Most of the deficit was caused by waging two wars and cutting taxes for the rich at the same time (and the GOP would love to cut taxes for the rich more and wage more wars).
And Social Security is not going broke either. It can pay full benefits for another 25-30 years, and then pay 80% benefits -- even if nothing is done. And a simple raising of the cap on income subject to FICA taxes would allow Social Security to pay full benefits for many more decades. The only reason the GOP wants to cut Social Security benefits or eliminate the program is because they don't like the program (and have never liked it).
They represent the rich (and the corporations), and those people don't need Social Security. So the Republicans oppose it. Social Security was created by the Democrats to help working people when they retire, and it does a very good job of doing that (having reduced the number of the elderly living in poverty from over 50% to under 10%).
Don't believe the GOP lies -- and don't let the Republicans cut Social Security benefits (or harm the program in any other way).
SS did not cause the deficit or the debt, and privatizing it will not reduce the deficit or the debt. Thr right simply wants to turn over the SS assets to Wall Sreet.
ReplyDeleteThe Federal government owes about 3-trillion dollars to SS. We shouldn't let them off the hook until its all paid back...every last dime.
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