It wasn't so long ago that it was said -- I'm not suggesting it actually was true -- that the Democrats were the chief defenders of Social Security. Whenever the Republicans launched one of their many attempts to eradicate and/or privatize Social Security, the Democrats would rise up to defend it. That was the story for years and years.
Fast forward to today. The Democrats now are fighting to extend the temporary payroll tax reduction for another 2 months or one year, depending on who you talk to. The payroll tax they are referring to is...Social Security!
For the last 10 years or so, we've been hearing that the Social Security Fund is in trouble (which isn't necessarily accurate). There are various projections that the ability of the fund to pay full benefits will run out in 20, 30 or 40 years. Since the story that this fund is in trouble is accepted by both Democrats and Republicans, how does reducing the amount of money flowing in make the fund healthier and more solvent?
The obvious answer is that it does no such thing!! If you believe the official storyline that the Social Security Fund is in trouble, then the payroll tax reduction only makes the situation worse. It brings the supposed day of insolvency closer and closer.
What all this means is that the Democrats are NOT the defenders of Social Security that so many have been led to believe. They are trying to wound it irreparably by starving it of revenue at the precise point in which it needs more, not less.
But almost no one is talking about this. You won't find this analysis in the mainstream media and, more shockingly, there is little discussion of it in the progressive media either. No, what we hear and read is that the Democrats are standing up for average folks and the big bad Republicans are standing in their way.
I never thought I'd say this, but, in this case, I side with the intransigent GOP!
Fast forward to today. The Democrats now are fighting to extend the temporary payroll tax reduction for another 2 months or one year, depending on who you talk to. The payroll tax they are referring to is...Social Security!
For the last 10 years or so, we've been hearing that the Social Security Fund is in trouble (which isn't necessarily accurate). There are various projections that the ability of the fund to pay full benefits will run out in 20, 30 or 40 years. Since the story that this fund is in trouble is accepted by both Democrats and Republicans, how does reducing the amount of money flowing in make the fund healthier and more solvent?
The obvious answer is that it does no such thing!! If you believe the official storyline that the Social Security Fund is in trouble, then the payroll tax reduction only makes the situation worse. It brings the supposed day of insolvency closer and closer.
What all this means is that the Democrats are NOT the defenders of Social Security that so many have been led to believe. They are trying to wound it irreparably by starving it of revenue at the precise point in which it needs more, not less.
But almost no one is talking about this. You won't find this analysis in the mainstream media and, more shockingly, there is little discussion of it in the progressive media either. No, what we hear and read is that the Democrats are standing up for average folks and the big bad Republicans are standing in their way.
I never thought I'd say this, but, in this case, I side with the intransigent GOP!
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