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nthought (< 20)

Social Security (taxes on the poor) runs a surplus, the general budget (taxes on the rich) runs a deficit.

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February 25, 2009 – Comments (5)

Coincidence?  I think not.

 

The facts.

 

The federal government "borrows" from your social security to pay down part of the deficit created by Bush's tax cuts, which mostly went to the rich.  It was under Reagan that social securty was reformed (taxes raised) and the income tax system was made more flat.  This led to a major general deficits, which of course,  was paid down by the social security tax which was running surplus.  The social security tax is a regressive tax used to pay for a tax breaks for the rich. 

 

George Bush and Ronald Reagan essentially both stole from the poor to give to the rich.  Now they tell us that Social Security is becoming insolvent.  The fact is, social security will run surpluses until 2017, and will be solvent for decades more.  Had the government kept it's hands off of it, it would be solvent much longer. 

 

But no, they're not going to shoot you straight.  They want your money.  They own you.  They own this place...

 

about 3 minutes in, Carlin, as usual, 100% correct.     

 

 

"It's a big club, and you aint in it"

5 Comments – Post Your Own

#1) On February 26, 2009 at 6:58 AM, Gemini846 (35.36) wrote:

The problem with the "Trust Fund" is what do you invest it in? Could you imagine if the "Trust Fund" was in the SPY and took a 30% haircut this year? Of course not, so they buy "safe" Gov Bonds with it.

George Bush and Ronald Reagan essentially both stole from the poor to give to the rich.

But taxes by thier nature are socialistic. They steal from the rich and give to the poor. Could you argue just as easily that the reason for the deficit is not the tax cuts, but that the poor are spending more and are more needy? They are the ones that will be using social security, not the rich.

 

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#2) On February 26, 2009 at 7:43 AM, Wharton93 (99.16) wrote:

Facts:

1) tax revenues keep going up year after year

2) deficits keep happening

Therefore, we are spending at a greater rate than we are raising revenues.  The government is already taxing its peasants enough; the government must reduce expenses.

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#3) On February 26, 2009 at 8:26 AM, russiangambit (28.96) wrote:

I agree with Wharton 93. We either need to cut spending or cut taxes. Our government spends above our means and it has been going on for 20 years at least.

It is very hard to cut spending because when it comes down to it every program seems useful and has a lobby.

For example, my opnion that we spend twice as much on military as we should. I am sure plenty of people strongly disagree. But if you could see the cost of each bomb, of each aircraft, and how freely we use them, that would give you a pause.Would you spend so much money on military if it was your own money?

It would help if we had a simple to navigate Website, something like "budget. gov", where eavh line of budget is shown year over year and people could comment /vote on each line.

That would help to raise awareness of obscure programs.

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#4) On February 26, 2009 at 12:09 PM, nthought (< 20) wrote:

My point is that we're being lied to about social security and taxes.  Of course, spending should be curbed, but the SS taxes we are told is going toward our retirement is high enough.  Medicare also runs a huge surplus, despite getting ripped off by the healthcare system.  They skim off from the social security surplus and tell us that it is failing.  It's not.  What is failing is controlling the spending in the general deficit.  Some of that spending is needed, some of it needs to be cut out. 

 

Russian, people who say government spending is out of control but the military budget should be increased obviously haven't looked at the budget lately.  Cut that in half and we'd have enormous surpluses.  People act as though this is such a big dilemma.  It's simple.  

 

Get rid of the cap on social security.  Drop the rate which will lower taxes for 95% of us.  Close some loopholes in the tax system, cut spending here and there...and we're fine.  I could do it myself.   

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#5) On February 26, 2009 at 12:24 PM, nthought (< 20) wrote:

BTW, Obama proposed raising the defense budget 4% to $533b.  He promised to cut it 10%.

 

There's your social security taxes at work.  Enjoy working until your 85. 

 

 

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