Matthew Vadum, of the Capitol Research Center, appearing on the Glenn Beck Program had the following comments on ACORN: "ACORN is a sophisticated crime syndicate" "They are a crime family," "they are engaged in racketeering." Sounds like a deserving recipient of $8 billion in Obama's stimulus money, doesn't it?
OUR VIEW: It’s time to get serious about Social Security
Wednesday, May 13, 2009 10:20 PM EDT
The Social Security trust fund will be exhausted by 2037, four years earlier than previously estimated, according to a the trustees’ annual report released Tuesday. According to The Associated Press, Social Security will start paying out more in benefits than it collects in taxes by 2016 and will be depleted by 2037.
The poor economy and reduced contributions, thanks to a rising unemployment rate, have put pressure on both, but they are really just accelerating a downhill slide that should come as no surprise to Congress. That’s why we agree with U.S. Treasury Secretary Timothy Geithner, who is the new head of the trustees group, that the nation can’t afford to wait any longer to address the growing deficits.
Currently, 49.9 million people receive Social Security and an overwhelming number of them depend on their checks. Moreover, the money isn’t a “gift” from the taxpayer — these recipients have been and, in many cases, still are, taxpayers; they and their employers have paid into the fund for their entire lives, with the expectation of a safety net at retirement. Now, as 78 million baby boomers are poised to retire, the viability of Social Security’s promise is in jeopardy. Already, many young people are convinced that they will never receive a single check.
Politicians are, of course, afraid to address the problems, knowing how important the plan is to their constituents — knowing that there are no easy answers. Still, there is no shortage of ideas, if only our leaders would have the courage to lead.
Potential solutions range from instituting a means test, thus denying benefits to the wealthy (while continuing to collect their taxes) to raising the payroll tax or, at least, removing the cap on income subject to the tax, to raising the age for full benefits to 70. And, of course, there’s the proposal that Congress stop using incoming Social Security dollars for other projects.
Each of these solutions would hurt someone; failing to find a solution would hurt everyone.
Matthew Vadum, of the Capitol Research Center, appearing on the Glenn Beck Program had the following comments on ACORN:
ReplyDelete"ACORN is a sophisticated crime syndicate" "They are a crime family," "they are engaged in racketeering."
Sounds like a deserving recipient of $8 billion in Obama's stimulus money, doesn't it?
Opinion
ReplyDeleteOUR VIEW: It’s time to get serious about Social Security
Wednesday, May 13, 2009 10:20 PM EDT
The Social Security trust fund will be exhausted by 2037, four years earlier than previously estimated, according to a the trustees’ annual report released Tuesday. According to The Associated Press, Social Security will start paying out more in benefits than it collects in taxes by 2016 and will be depleted by 2037.
The poor economy and reduced contributions, thanks to a rising unemployment rate, have put pressure on both, but they are really just accelerating a downhill slide that should come as no surprise to Congress. That’s why we agree with U.S. Treasury Secretary Timothy Geithner, who is the new head of the trustees group, that the nation can’t afford to wait any longer to address the growing deficits.
Currently, 49.9 million people receive Social Security and an overwhelming number of them depend on their checks. Moreover, the money isn’t a “gift” from the taxpayer — these recipients have been and, in many cases, still are, taxpayers; they and their employers have paid into the fund for their entire lives, with the expectation of a safety net at retirement. Now, as 78 million baby boomers are poised to retire, the viability of Social Security’s promise is in jeopardy. Already, many young people are convinced that they will never receive a single check.
Politicians are, of course, afraid to address the problems, knowing how important the plan is to their constituents — knowing that there are no easy answers. Still, there is no shortage of ideas, if only our leaders would have the courage to lead.
Potential solutions range from instituting a means test, thus denying benefits to the wealthy (while continuing to collect their taxes) to raising the payroll tax or, at least, removing the cap on income subject to the tax, to raising the age for full benefits to 70. And, of course, there’s the proposal that Congress stop using incoming Social Security dollars for other projects.
Each of these solutions would hurt someone; failing to find a solution would hurt everyone.
URL: http://www.newbritainherald.com/articles/2009/05/14/opinion/doc4a0b7f23af6a0129968219.prt
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