Social Security Sabotage

With all the Republican talk about the “insolvency” of social security they don’t seem to be doing much of anything to address it. The President has now admitted that his proposed privatization plan will do nothing to address the projected shortfall, yet he and his team continue to press the plan as if it were a solution. Now I am reading that in the 2006 budget, Republican Senator Jim Bunning passed a Social Security tax break that will rob the system of more money and pass it on to the wealthiest of Americans.

Robbing the Treasury of $64 billion in reduced revenue over five years passes for fiscal discipline these days on Capitol Hill. Under Bunning’s proposal, Social Security recipients making over $200,000 will see a 14 percent increase in after-tax benefits. The over $100,000 crowd–which represents a mere 8.8 percent of Social Security recipients–rake in a 52 percent increase, while three-fourths of the eligible population will see no change.

Unless the Presidents’ agenda is to sabotage Social Security while at the same time making his donors rich; this entire exercise is a perfect example of the failure of Republican philosophy, at least this administration’s flavor of Republicanism.

Leave a Reply

Your email address will not be published.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

Connect with Facebook