Bush wants to cut Social security benefits

[thunder35]

WASHINGTON - The Bush administration said Monday the only way to permanently fix Social Security is through some combination of benefit cuts and tax increases.

That was one of the key findings in a new paper on Social Security released by the Treasury Department in an effort to achieve common ground on the politically explosive issue.

"Social Security can be made permanently solvent only by reducing the present value of scheduled benefits and/or increasing the present value of scheduled tax increases," the paper said. The Treasury paper said that while other changes to the giant benefit program might be desirable "only these changes can restore solvency permanently."









http://www.msnbc.msn.com/id/20957376/

[eleny]

1. The way to keep SSA solvent is to keep Republicans from holding high offices

[robinlynne]

3. agreed.

[Jim__]

19. Exactly!!! - n/t

[Deja Q]

2. Tax increases?

:popcorn:

[babylonsister]

4. That'll go over well. nt

[Skink]

5. We could remove the cap for those making 200,000 or more.

between 97,000 and 200,000 could remain tax free, above that the tax kicks back in.

[Nite Owl]

14. I don't know how the numbers would

pan out but if the cap was removed completely would there be enough then to lower the SS tax from paychecks? That would be a tax cut for those who need it most, they would see it in every paycheck.

[The_Casual_Observer]

15. just remove the $87,000 limit.

[MADem]

17. It would be important to build in an adjustment mechanism to the law.

And NOT wait for Congress to correct it on their own.

Many years ago, a loaf of bread cost a dime. Inflation has a way of sneaking up on one. When I was a kid, I thought a million dollar home was a massive estate with a gazillion acres attached, not a small wood frame house in a trendy neighborhood!

[Medical Speaking]

6. Cut Funding

To the Irag war, raise the limit on SS. Done deal.

[soothsayer]

13. yes, if we pour $500k a minute into the SS fund instead of into Iraq, we'll be set!

[xxqqqzme]

7. '....giant benefit program..."

If the Democrats do NOT immediately begin reframing this - we will lose it. It is NOT a benefit plan - every cent I receive, came out of MY paycheck! It is MY money.

[no_hypocrisy]

8. So, therefore if * can't take away the SS money and give it to Wall Street,

he'll make sure we can't have our money by his implementing Plan B?

[MrCoffee]

9. this is some repuke 2008 electioneering

they want to open the debate on social security by having some dire administration warnings about the imminent demise of social security.

be prepared for some new repuke position papers on social security reform.

[asjr]

10. I really believe he wants young

children and the elderly to just die.

[lpbk2713]

11. He has bankrupted the US Treasury with his ineptitude, his criminality, and his bogus war

We will be paying off the bad debts this asshole has committed us to for generations to come. Whoever the next President is they will inherit all the problems BushCo has been sweeping under the rug for the past six years. I don't envy them.

[Ezlivin]

12. To save it we must first kill it

Sounds like his "Healthy Forests Initiative."

He hates our freedoms, all right.

[catmandu57]

16. I've got a better idea

How about we rescind the tax cuts to the have mores and as a matter of fact let's tax the living hell out of them, get the fuck out of Iraq like yesterday and put that motherfucker in prison where he fucking belongs.

[Robson]

24. I like that idea

Couple facts to consider

1/ Social security trust surpluses paid by the little guy wage earners were used to fund the huge tax cuts on dividends and income that primarily benefited the wealthy.

2/ To put it another way, the very wealthy that do not work (i.e. have zero earned income) but have enormous investment income benefited enormously from those tax cuts on the back of social security trust.

[Rex]

18. George hates SS because as a wealthy, spoiled child

he cannot 'benefit' from the money WE PUT IN THERE. So what to do? Fuck it up!

Only three words George knows - fuck it up!

[MiniMe]

22. Oh, he will receive it someday. But it means nothing to him

It is a drop in the bucket, chump change to him. Meanwhile, many people will need that money to try to live off of, especially the ones who thought they had planned for retirement and their companies did away with their pension plan.

[earth mom]

20. Repeat after me: Social Security is NOT broken.

Now spread the word to EVERYONE you know. That's how you fight this disinfo! :grr:

[Liberal In Texas]

21. Ah, see. This is our punishment for fighting privatization. Cuts or taxes, our choice.

(And of course the taxes will be levied on the middle class and the poor.)

What rot.

[monmouth]

23. This from a guy who got a C- in Econ.101!!! I think not....n/t

[Vinca]

25. What a piece of work this guy is . . . and all the time claiming

he's got some hotline to God. Which religion is it that promotes denying kids healthcare and starving Grandma? What an asshole.