- Jul 29, 2001
- 39,398
- 19
- 81
Hard facts to deal with but let me see if I can explain.
http://zfacts.com/p/461.html
As you can see from the link the Federal Government "borrows" form workers social security to pay down part of the deficit created by Bush not wanting to levy income tax on the rich. Reagan helped too when he raised payroll taxes (SS), a regressive tax which workers pay, and slashed income tax on the top earners. This led to a major general deficits, which of course, was paid down by the social security tax which was running surplus.
They always tell you that Social Security is becoming insolvent. I wonder why?? The fact is, social security will run surpluses until 2017. Had the government kept it's grimy hands off of it, it would be solvent forever. But no, had to give a capital gains tax cut and couldn't dare talk about raising taxes on those at the top..
Essentially they fucked you, again.
http://zfacts.com/p/461.html
As you can see from the link the Federal Government "borrows" form workers social security to pay down part of the deficit created by Bush not wanting to levy income tax on the rich. Reagan helped too when he raised payroll taxes (SS), a regressive tax which workers pay, and slashed income tax on the top earners. This led to a major general deficits, which of course, was paid down by the social security tax which was running surplus.
They always tell you that Social Security is becoming insolvent. I wonder why?? The fact is, social security will run surpluses until 2017. Had the government kept it's grimy hands off of it, it would be solvent forever. But no, had to give a capital gains tax cut and couldn't dare talk about raising taxes on those at the top..
Essentially they fucked you, again.