Hail to the Thief!

Friday, 11 February 2005

The Social Security thing comes down to this.

In 1983, Congress, President Reagan, and a guy named Alan Greenspan put together a deal to fix Social Security. The deal was that they would raise payroll taxes, and for the next 40 years those taxes would bring in more than Social Security needed. The excess would be loaned to the general treasury. After 40 years had passed, the extra payroll taxes would not be enough, so the general treasury would start paying back the loan.

We are now halfway through the initial 40 year period. For the last 20 years, we have been paying extra payroll taxes and loaning the money to the treasury, with the expectation that it would be paid back later. Now Bush wants to not pay it back.

Bush is trying to steal not just your future FICA taxes, but all the FICA taxes you have paid for the last 20 years.


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