More Fraudulent Attempts to Dismantle Social Security | WisCommunity

More Fraudulent Attempts to Dismantle Social Security

has exposed yet another scam, an alarming one regarding Social Security.  Some highlights:

"Governing elites in Washington and Wall Street have devised a fiendishly clever "grand bargain" they want President Obama to embrace in the name of "fiscal responsibility." The government, they argue, having spent billions on bailing out the banks, can recover its costs by looting the Social Security system. They are also targeting Medicare and Medicaid."

".....These players are promoting a tricky way to whack Social Security benefits, but to do it behind closed doors so the public cannot see what&;s happening or figure out which politicians to blame. The essential transaction would amount to misappropriating the trillions in Social Security taxes that workers have paid to finance their retirement benefits. This swindle is portrayed as "fiscal reform." In fact, it&;s the political equivalent of bait-and-switch fraud."

".....Follow the bouncing ball: Washington first cuts taxes on the well-to-do, then offsets the revenue loss by raising taxes on the working class and tells folks it is saving their money for future retirement. But Washington spends the money on other stuff, so when workers need it for their retirement, they are told, Sorry, we can&;t afford it.

 Federal budget analysts try to brush aside these facts by claiming the government is merely "borrowing from itself" when it dips into Social Security. But that is a substantive falsehood. Government doesn&;t own this money. It essentially acts as the fiduciary, holding this wealth in trust for the "beneficial owners," the people who paid the taxes. This is the bait and switch the establishment intends to execute."

" .....The authors of this plan are sixteen economists from Brookings and Heritage, joined by the American Enterprise Institute, the Concord Coalition, the New America Foundation, the Progressive Policy Institute and the Urban Institute. "Our group covers the ideological spectrum," they claim. This too is a falsehood. All these organizations are corporate-friendly and dependent on big-money contributors. No liberal or labor thinkers need apply, though the group includes some formerly liberal economists like Robert Reischauer, Alice Rivlin and Isabel Sawhill."

There&;s more.  Definitely, a must read article.  Again,

Published

February 14, 2009 - 4:38am

Author

randomness