Christie came out the other day with this fucked-up "tough love" message about how we need to "fix" Social Security and how he's the man to do it. I presented my thoughts on that speech here. (BTW...Christie's state is in a shambles.)
Now a little lesson on why Social Security can never be "fixed" and repeating, for the umpteenth time, why it's not broken.
A tax is a tax. It is the removal of all or part of this income. Why should this be put on seniors and workers? It won't make Social Security more "secure." First of all it can never be insecure in a financial sense because the US government cannot run out of dollars. Greenspan explained that already to Paul Ryan in a video/post I have put up many times.
Secondly, all Social Security taxes flow into the Treasury's general account and are used for general expenditures. That's always how it has been. There is no "lockbox" like Al Gore once laughably told everyone. In fact, the government has no means whatsoever to "save" its own fiat. The whole notion is idiotic. Is the money stored up in some warehouse somewhere?
The fact of the matter is, any additional Social Security tax would a) hit workers the hardest and; b) just flow right into the Treasury's general account as it always has and be spent. Probably on war.
So, 10 years down the road they'd be saying we have to save Social Security...again. Then what? More taxes? Come on. Wake up. This is Wall Street wanting our tax dollars so it can play its casino games.
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