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Reply #26: There has been no "raid" on SS - there has been massive overspending and exzcessive tax cuts that [View All]

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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-15-07 10:03 PM
Response to Reply #18
26. There has been no "raid" on SS - there has been massive overspending and exzcessive tax cuts that
produced 500+ billion of deficit increase every year that our media has not reported - reporting instead the "budget" deficit which uses Social Security surpluses to hide the massive deficit.

The SS system holds government bonds that it will begin to cash in in 2017.

That is the fear - that is the only GOP fear - because to cash those bonds in the rich will have their tax rates raised so as to get the money to repay the bonds - in effect the rich have to repay those Bush tax cuts that we couldn't have afforded without the SS surplus. The rich will be repaying the loan they took out from SS so they could have the tax cut for the rich.
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