Molly Ivins: Bush's new math

[Dudley_DUright]

Attention, all campers! "Progressive indexing" is just another word for "cutting Social Security benefits." Do not be fooled by this idiot locution. Just as sure as "extraordinary rendition" now means "shipping the guy to another country so he can be tortured," progressive indexing means cutting benefits. Got it?

In another interesting development from President Bush's news conference, if you make more than $20,000 a year, you are wealthy. That's what the president said -- "wealthy."

Would you hire this man as an investment consultant? Bush said, "I know some Americans have reservations about investing in the stock market, so I propose that one investment option will consist entirely of treasury bonds, which are backed by the full faith and credit of the United States government." These are exactly the same treasury bonds that currently guarantee Social Security and have been described by Bush, including in the very same press conference, as a cabinet full of "worthless IOUs."

<snip>

And all I can say for Bush's energy plan is, if he thinks Americans want to give even more huge tax breaks to the oil companies when they are already making obscene profits, he's been talking to people on the wrong planet.

more...

http://www.workingforchange.com/article.cfm?itemid=18993

[mopinko]

1. i think people get it

if it has something called a clawback, it is not good for you. and there is no plan, but there are details like a clawback, so somebody is planning something. again, not good. hard to put lipstick on a pig like that. you tell 'em molly.

[applegrove]

2. Do they really plan on clawback? Or isn't the plan to clawback at

the source by giving the middle & upper middle class lesser rates of return (attaching their SS to a bundle of goods). And forcing them into the bond or stock markets to make up the difference..thereby creating more investors in the investor class. And creating less empathy with the people who do get the results of a progressive system.

I'm guessing that the Bush tax plan, to come in September, will erase income taxes (but not taxing wages for SS) at the source. Thereby making clawback impossible. Which is why the progressiveness has to be applied at the source in the way the government accounts for somebodies SS.

Don't know the details. But VAT taxes are all over the news these days. Vat tax would make sure guest workers pay taxes... while the rich once again get away with a less progressive system.

[JohnnyRingo]

3. I love Molly....She helped me answer a friends defense of Buxh

His "Limbaugh defense" of privatization is that "It's only 4% of your SS".

By the way, to the bird-brain on television who said it's only 4 percent of your Social Security and who wouldn't take some risks with a mere 4 percent? -- jeez. The 4 percent they are talking about is 4 percent of the 12 percent in total Social Security tax. Four is one-third of 12, and that comes to 33 percent. It's not that hard, honey.