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Cutting the Deficit: Sacrificing Workers to Save the Rich
Posted on 28 Nov 2010 by the Editor
<P align=justify>The same Commission Report proposes to reduce capital gains and income taxes for the rich by up to 24%.</P>
<P align=justify>President Obama and the Republican leadership praised the Commission and wants &#8220;to give them space to work on it.&#8221;</P>
<P align=justify>The so-called crisis of Social Security is a result of the Republican and Democratic governments siphoning off payments into the general fund.&nbsp; The forthcoming shortfall (2030) can be easily remedied by lifting the payroll tax ceiling, for the rich, taxing all earned income.&nbsp; Medical costs can be reduced by 50% by replacing the for profit corporate health insurance and pharmaceutical corporations with a non-profit national health system, similar to successful programs in Europe and Canada.Both Medical plans and Social Security can be easily funded by imposing a 1%sales tax on the sale of stocks and bonds.</P>
<P align=justify>The deficit proposals put forth by Obama&#8217;s Bipartisan Commission threaten to push the one-third of retirees who depend mainly on their social security payments into the food kitchens or destitution.&nbsp; The added cost and reductions in health care will increase the mortality rate among working families.&nbsp; The increase in retirement age will result in &#8220;work until you die&#8221;, with no time for leisure, travel or grandchildren.&nbsp; It is time to send a message to Washington:&nbsp; cut Social Security and Medicare and home interest deductions and you will visit Washington on your own time.</P>
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