I picked this from a local paper, letter to the editor, any thoughts folks?? Congress is currently in budget negotiations for next year. Republicans are pressing for entitlement reform in the name of debt reduction. In the past, the president has shown a willingness to nickel-and-dime the elderly, disabled and poor by offering such concessions as the chained CPI, which will reduce Social Security cost of living increases. Blevins 300x250 in storyAgrimark Cheese Boxes Often, politicians will claim the Social Security trust fund is unsustainable and will run out of money. There is a very easy fix for this problem. Currently, there is an income cap of about $120,000 per individual for Social Security contributions. That is, millionaires and billionaires are paying no Social Security taxes on any income over that amount. Raising or eliminating this cap could make the Social Security trust fund solvent forever. An added benefit is that it has been shown that money in the hands of the poor and middle class gets spent, which stimulates the economy and creates jobs. The wealthy, on the other hand, are currently sitting on billions, if not trillions of dollars, neither spending or investing, while our unemployment rates remain stubbornly high. Large corporations and the wealthy benefit from using our infrastructure, our tax code favorable to the rich and our laws that allow them to have excessive influence on politicians. The longer we allow them to avoid meeting their obligations, the more the middle class will continue to shrink while the wealth gap between rich and poor grows.
Posted on: Wed, 04 Dec 2013 17:15:00 +0000
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