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Thanks To Bush's Deficits...


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Bush insists on the wealthy having a tax cut and now Alan Greenspan suggests the benefits of Social Security for those in need be cut. Something had to give.Didn't he promise no new deficit with the tax cuts and approximately 4 million jobs created?

Alan also says the economy is going to be in big trouble if something isn't done with the deficit soon.

Well, here's the 1st of many to come proposed cuts.

The wealthy who received their tax cut don't care if Social Security gets cut or not, they are already rich and it wouldn't affect them like it does so many out there who struggle every day to make ends meet.

I know there are other factors to the Social Security Cut Proposal.

Seems like these wealthy tax cuts helped them move their business out of the country instead of creating the promised jobs. We cannot afford another 4 years of Bush!

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  • 2 weeks later...

Yeh the first thing Congress should eliminate is Greenspan.They hold our money without paying interest.The Federal Reserve wants this country to run a deficit so they can charge us interest. The Republicans have use the Social Security Funds for years now. So now they want people to invest in the Stock Market, so they can pull another Enron on you.CEO of corporations are stealing from stockholders with their salaries and bonusses,they screwed the workers with outsourcing.They need new victims to ripp off before they get caught stealing. Just ask Ken Lay.

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did you guys really believe it would still be there when you retire?

comeon now, there i no way any nations can take care of everyone. people live too long, health care is too expensive, and the entire system is inefficient.

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did you guys really believe it would still be there when you retire?

comeon now, there i no way any nations can take care of everyone. people live too long, health care is too expensive, and the entire system is inefficient.

Well, Greenspan pushed for higher payroll taxes for workers a few years so that it *would* be there. Then the social security "surplus" was used as a reason to cut taxes for the richest earners. Now those middle earners who are paying higher payroll taxes are hearing that their benefits will be cut.

Can you see the shell game at work ?

In order to keep the tax cut juggernaut going, they will have to start cutting social security because there's not enough fat left in the US system to fund more cuts.

People don't live significantly longer than they did in 1980 do they ? And with productivity higher than ever, why do we seem to be able to afford less and less as a society ?

It may have something to do with the fact that the highest US tax bracket is something like it was in 1931 or so. The highest earners believe that this situation is fair, and have convinced middle workers of the fact.

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And this from Yahoo! News yesterday: Warren Buffet, one of the most savvy investors ever, says that corporations have TOO favourable a situation, tax-wise.

Yahoo! News article

Buffett also criticized the tax policies of the Bush administration, saying they were too favorable to corporate America. He said Berkshire's tax bill was $3.3 billion in 2003.

"We hope our taxes continue to rise in the future -- it will mean we are prospering -- but we also hope that the rest of corporate America antes up along with us," said Buffett.

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