The Social Security Time Bomb in the Tax Cut Deal

Some little-reported aspects of the deal:
The 2% payroll tax holiday was put in by Republicans! It’s a Republican Trojan Horse to try to destroy Social Security. Anything but in by the Republican Enemy cannot possibly be any good. The problem is that this payroll tax cut blows a bigger hole in the deficit, and in one year, it will come up for renewal, and most Republicans will probably vote against reinstating the old rate. It will be hard for Democrats to vote for it too, especially if the recession is continuing, as it will be.
Bottom line is that no one will probably want to raise the payroll tax to its old rate, so the new rate will stay. This will deprive Social Security of its needed funding and will mean that Social Security will go into crisis twice as fast as otherwise.
Social Security was put in by FDR deliberately as a pay as you go system. You pay in, you get it back. When you stop paying in as this plan does, the system goes bankrupt.
Republicans have always tried to make SS a welfare program like all the rest, limiting it to the poorest of poor. That’s a nice way to kill off a program. Programs only for the poor make poor programs because the middle classes are taxed for a program that they don’t benefit from. It also plays into racism as Whites objected to “hard-working White tax dollars going to lazy, worthless criminal niggers.” So it was correct to make SS universal. Universal programs have the best chance of surviving. Means-testing a program is a good way to kill it off.
As Social Security gets progressively deprived of funding, the deficit crisis will explosively worsen. But that’s the purpose of this Republican Trojan Horse – to deliberately create a budget crisis. The pressure will grow and soon become overwhelming to make major cuts in SS, Medicare, Medicaid, etc.
I believe that this Republican Trojan Horse is actually setting up SS to privatize it and allow it to be destroyed by Wall Street vulture banksters. Obama will probably go along with the destruction of SS as this seems to have been his goal since he got into office.
Obama seems like a Great White Shark following the blood trial of Social Security. He’s determined to follow that trail through the political sea until he finds his prey, tens of millions of bleeding seniors, widows and disabled, whom he will smugly tear to shreds.
Social Security does not need to be cut, much less gutted.

Please follow and like us:
error0
fb-share-icon20
Tweet 20
fb-share-icon20

0 thoughts on “The Social Security Time Bomb in the Tax Cut Deal”

Leave a Reply

Your email address will not be published. Required fields are marked *