Bernanke on C-SPAN now --says must reform soc security or raise taxes

Blackhatjack

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Wed Oct-04-06 12:02 PM
Original message

Bernanke on C-SPAN now --says must reform soc security or raise taxes

... so I guess he is in favor of cutting social security programs while keeping tax cuts for the richest 1%, right?

We could see this coming a mile away!

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bigbrother05

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Wed Oct-04-06 12:07 PM
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1. will have to raise taxes if we don't cut SS

I guess he has to get that 1% back inline

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razors edge

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Wed Oct-04-06 01:27 PM
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2. or what, he's going to stop printing any more funny money?

Edited on Wed Oct-04-06 01:27 PM by DiktatrW

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ProgressiveEconomist

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Wed Oct-04-06 01:36 PM
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3. What happened to the TRILLIONS in extra FICA already deducted

from workers' paychecks since 1983? They were supposed to prevent just this problem.

Cutting Social Security benefits now definitely would turn Ronald Reagan into the biggest tax-increaser in history. All those extra trilllions from workers' paychecks, sold as a "social insurance premium", really would turn out to have been a shift in the tax burden from those at the very top to those at the very bottom.

Remember, Reagan cut the top INCOME tax rate on the wealthy few from 70 percent to 28 percent, and raised PAYROLL tax rates on just about everybody by about one-fourth.

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Tyler Durden

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Wed Oct-04-06 01:42 PM
Response to Reply #3

5. Hey, we don't have to pay THAT back!

Their logic was that we owe the money to ourselves, so we don't have to pay it back. NOT that it has been SQUANDERED in the last 5 years on political/military advernturism...NOOOO.

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sandnsea

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Wed Oct-04-06 02:06 PM
Response to Reply #3

7. We can't stop yelling about that

We're the first generation to actually contribute to social security for OUR OWN retirement and these assholes want to distort the issues and make us pay AGAIN. Uh uh, no way, no how.

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Lydia Leftcoast

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Wed Oct-04-06 01:40 PM
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4. Furthermore, raising the cap on FICA assessments would do a great

deal to keep SS current. As it is, some CEO with an annual salary of $2 million pays exactly the same in FICA as does one of his subordinates who earns approximately $90,000.

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Elwood P Dowd

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Wed Oct-04-06 01:51 PM
Response to Reply #4

6. But then all the money from the rich would no longer trickle down on us

poor people. Bill Gates and the Walton family simply cannot afford this, so they will be forced to fire workers and reduce wages. Many will be forced to move jobs offshore and trickle down on Mexicans or Chinese.

:sarcasm:

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berni_mccoy

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Wed Oct-04-06 02:07 PM
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8. HEY DUMBASS BERNANKE! HOW ABOUT STOP WASTING BILLIONS

ON ILLEGAL WARS IN THE MIDDLE EAST?!?!

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napi21

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Wed Oct-04-06 02:10 PM
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9. OK Ben, then tell Congress to raise the damn cap!

YES, that's raising taxes!!!! These fools have had5+ years enjoying their hugh tax cuts, so now they're going to have to fork over a few sheckles for the good of the Country!!!

Just say it and get it over with!!!!

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SoCalDem

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Wed Oct-04-06 02:12 PM
Response to Original message

10. Republicanism in action...

when a tax increase is needed, quickly reduce taxes over and over..borrow into oblivion, and any attempt to restore taxes to their original ploint is immediately touted as a huge increase..:puke:

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KansDem

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Wed Oct-04-06 02:19 PM
Response to Original message

11. Stop putting $11 million AN HOUR down the Iraq rat hole...(eom)

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