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Indybay FeatureRelated Categories: U.S. | Health, Housing, and Public Services
Stealing your Social Security with a budget based on lies
We are witnessing a bi-partisan effort to destroy a self-sustaining program that has survived for 70 years, in spite of periodic "borrowing" by the general fund of the US government. Maybe it's time to call in those debts, rather than cut back our coverage. Social Security is just not an "entitlement", paid at will by the government. It is insurance paid with premiums deducted from your paycheck. Those deductions never were intended to lumped in with the rest of the federal budget.
(INDYRADIO 04-05) "President Barack Obama’s proposed budget will call for reductions in the growth of Social Security and other benefit programs" The big lie was published minutes ago by The Washington Post. Social Security is NOT a benefit program. It is insurance funded by payroll deductions.It was designed by the world's leading economists to be self sustaining, and has survived for 70 years. Payroll deductions for Social Security premiums are now being treated as a tax, and it is a tax that weighs most heavily on the poor. Social Security premiums were never meant to be paid in to the general revenue fund. You pay premiums to fund your benefits, which will now be cut, by a man posing as a Democrat, because George W. Bush could not accomplish this mission during his 8 years in office. But Social Security withholding has already been increased. The cap on taxable should have been removed instead, to match decades of inflation. What we see is yet another victory for the 1% in the continuing War Against the Poor.
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