Sunday, January 30, 2011
Eliminate WFW, Not SS
Although congressman Eric Cantor, John Boehner, and conservative Republicans are again calling for cuts in Social Security as a way to reduce the federal deficit, it is abundantly clear that either they do not understand Social Security or they are trying to misrepresent it.
Social Security is not adding to the deficit, it is paid through the payroll tax, and it raises more money than it pays out and is projected to do so for another couple of decades. The salaries and perks of Congress add to the deficit, Social Security does not. Also, these guys fail to point out that over the years Congress has raided the Social Security Fund to finance a plethora of projects. If the fund had not been used for these other pet projects, the Social Security System would continue to have a surplus well into the future.
Other actions of Congress have added to the federal deficit. Tax cuts for billionaires. Agriculture subsidies. Bush's wars in Iraq and Afghanistan. Subsidies for big oil companies. Bailing out Wall Street. Defense contracts for weapons and services the military does not want or need. These are the real deficit makers.
And, as Senator Bernie Sanders points out, if we want to make Social Security solvent well into the foreseeable future, all we need to do is remove the income cap on SS. There is no reason a billionaire pays the same as the guy who makes a hundred and six thousand dollars.
Before Congress talks about attacking Social Security which will run a surplus for decades, they need to eliminate welfare for the wealthy--billionaire tax cuts, agricultural subsidies, big oil subsidies, and defense contracts for worthless weapon systems. These are the items that are increasing the deficit. Until they start working on these items, they are just blowing smoke.
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