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Editorial
See other Editorial Articles

Title: Why Do Republicans Hate Social Security?
Source: [None]
URL Source: http://www.opednews.com/articles/Wh ... Bernie-Sanders-110922-509.html
Published: Sep 24, 2011
Author: http://www.opednews.com/articles/Why-Do-
Post Date: 2011-09-24 14:38:00 by tom007
Keywords: None
Views: 606
Comments: 35

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Republicans hate Social Security because it has been an extraordinary success and has done exactly what it was designed to do. It is the most successful government program in our nation's history and is enormously popular.

When Social Security was developed, 50 percent of seniors lived in poverty. Today, that number is 10 percent -- still too high, but a testament to the success of Social Security.

Republicans have spent years demonizing Social Security and spreading lies about its sustainability. They want to scare Americans and build support for making drastic cuts to the program or privatizing it entirely. Their long-term goal is to end Social Security as we know it, and convert it into a private account system which will enable Wall Street to make hundreds of billions in profits.

The truth is that today, according to the Social Security Administration, Social Security has a $2.7 trillion surplus and can pay out every benefit owed to every eligible American for the next 25 years.

Further, because it is funded by the payroll tax and not the U.S. Treasury, Social Security has not contributed one nickel to our deficit.

Now -- in a prolonged recession that has decimated the poor and middle class and pushed more Americans into poverty than at any point in modern history -- we need to strengthen Social Security. That's why I, along with nine co-sponsors, have introduced the "Keeping Our Social Security Promises Act." This legislation would lift the Social Security Payroll tax cap on all income over $250,000 a year, would require millionaires and billionaires to pay their fair share into the Social Security Trust Fund, and would extend the program for the next 75 years.

For 76 years, through good times and bad, Social Security has paid out every benefit owed to every eligible American. The most effective way to strengthen Social Security for the next 76 years is to scrap the payroll tax cap for those earning $250,000 a year or more.

Right now, someone who earns $106,800 pays the same amount of money into Social Security as billionaires like Bill Gates and Steve Jobs. That is because today, all income above $106,800 is exempt from the Social Security tax. As a result, 94% of Americans pay Social Security tax on all of their income, but the wealthiest 6% do not.

That makes no sense.

The "Keeping Our Social Security Promises Act" will ensure the long-term solvency of Social Security without cutting benefits, raising the retirement age or raising taxes on the middle class.

Social Security is keeping tens of millions of seniors out of poverty today. I can think of no more important issue facing our country today than making sure that Social Security remains strong for generations to come.

Join me and Democracy for America in fighting to strengthen Social Security -- Sign on as a citizen co-sponsor of the Keeping Our Social Security Promises Act.

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Begin Trace Mode for Comment # 5.

#5. To: tom007 (#0)

The truth is that today, according to the Social Security Administration, Social Security has a $2.7 trillion surplus and can pay out every benefit owed to every eligible American for the next 25 years.

The truth is that the sob's LIE.

Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.

And that little excerpt was from an article that came out in 2007! Does anyone with more than two brain cells to rub together think it has gotten BETTER since then?

James Deffenbach  posted on  2011-09-24   15:10:33 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 5.

#6. To: James Deffenbach (#5)

And that little excerpt was from an article that came out in 2007! Does anyone with more than two brain cells to rub together think it has gotten BETTER since then?

The illegal invaders are getting Social Security benefits before the age of 40, it's total insanity to ask us to contribute to such a program. I want a total refund of every last penny I've been forced to hand over to Uncle Scam, let ME be responsible for my own life. That's what freedom really is: the freedom to succeed or the freedom to fail without a safety-net.

X-15  posted on  2011-09-24 15:17:08 ET  Reply   Untrace   Trace   Private Reply  


#10. To: James Deffenbach (#5)

The truth is that the sob's LIE.

Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006.

Hi JD, Any idea what the SS portion of that 59.1 T is?

And has SS contributed to the deficit?

Thanks in advance.

tom007  posted on  2011-09-24 15:33:06 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 5.

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