When Repurg’s and some “conservative Dem’s talk about reducing the deficit they have one thing on their minds, cutting programs that they hate because they work. Top on of their list is Social Security and Medicare/Medicaid .They hate these programs because they prove that government does work and it also costs less than the “free market” or privatization. Just look at the “Budget" that Rep.Paul Ryan (R-WI) a ranking member of the house budget committee recently released. The budget is called “Roadmap for America’s Future”, and what a future it would be. The Repug’s Future involves Medicare and Social Security Privatized an Arbitrary freeze on all Non-discretionary spending.
So after the last two years of Wall Street collapses and malfeasance the Repug’s want people to invest up to 1/3 of their Social Security in the market, yep that’s a good idea. Social Security is there to protect people from having nothing if their retirements die in the markets. Smart. Next this is my favorite, “For those currently under 55 – as they become Medicare-eligible – it creates a Medicare payment, initially averaging $11,000, to be used to purchase a Medicare certified plan.” $11,000 the average Plan right now is $16,000 and do you like how they used the word” Initially” in there, if the costs get to much they will cut it even more.
So now that this “Budget” is out there the Repug leadership is not backing away but also not indorsing it. This is the type of Budget proposal that every Repug should be asked about every time they go on TV; this is what they are selling. When they say that they want to cut the Budget or reduce spending they are not talking about the two thirds of the budget that is military spending they are talking about gutting Social programs. They don’t care about the little people, and by little person I’m talking about people that make less than $100,000 per year.
Now if we really wanted to lower the deficit there is one sure way to do it, raise the top part of the Social Security and Payroll tax to include every dollar that is paid in a salary. Did you know that someone who makes $90,000 dollars a year pays about $5,400 in “Fica” but someone who makes $1,000,000 a year also pays only $5,400 a year, they only pay on the first $90,000 they make that is shorting us $54,600 per year and what are we losing to the Wall Street and Major Corporations that make $500,000,000 or more. That is where our Tax short fall is and we should be going after that lost money now.
Open thread for night owls. Baker: Financial transactions tax would attack income inequality - *Dean Baker* at* Jacobin *magazine writes—*A Job-Killing Robot for Rich People: A financial transactions tax would attack income inequality by attacking ...
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