The Illusion of Social SecurityRobert J. Samuelson writes about Social Security’s burden on the federal budget in his Newsweek article Entitled Selfishness. He makes some good points and the concern needs to be elevated. Not only Social Security and Medicare, but our entire federal debt of $9 trillion needs to be urgently addressed. This debt, and the associated interest, is a much more tangible threat to the American standard of living than any jihadist. Each American’s share of the debt equals $30,000, and the interest is roughly $1500 per year. Most of that $1500 comes from working class individuals whose taxes pay interest to wealthy investors who buy government debt. Many of these investors are foreign. We need to curb ALL entitlements, cut the size of government, and put that $9 trillion back into the hands of working Americans who could use $1500 each toward their healthcare, education, or their personal social security. Michael Previous: Iowa Newspaper Interview -- Next: Arianna, Have I told you lately how charming you are? Comment from Weird: AND the IRS, cut the IRS, PLEASE! That’s all I’ve got. Posted by Weird Jan 11, 08:08 PM # Comment from Michael Smith: Absolutely! Even though government needs revenue, I’d work to abolish the 16th amendment and replace the income tax with a consumption tax. Posted by Michael Smith Jan 12, 01:06 PM # |
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