Friday, December 10, 2010

The Obama/Republican tax deal's Social Security Phaseout feature

There are more pieces out focusing on the Social Security Phaseout provision in the tax cut deal Obama made with the Republicans on Monday, the "payroll tax holiday" that gives Social Security opponents a new angle to use in arguing against the program.

Dean Baker, The Obama Tax Deal: Giving the Hostage Takers More Hostages TPM Cafe 12/10/2010: "my greater concern is what happens to Social Security in this story. Effectively, this deal would give us a permanent two-percentage point reduction in the payroll tax in a Washington climate very hostile to Social Security." He explains:

The prospect of this tax cut being the basis for a renewed attack on Social Security could be dismissed if the program had defenders in high places, but this does not appear to be the case. Most of the Republicans would almost certainly like to privatize Social Security.

Unfortunately, the Obama administration cannot be counted on to defend the program either. In fact, top officials in the administration seem to view attacks on Social Security and its supporters as a way to prove their manhood. President Obama's decision to appoint two arch-enemies of Social Security to chair his Fiscal Responsibility commission certainly does not inspire confidence among supporters of Social Security. ...

Supporters of Social Security should reject the latest deal and tell President Obama to stand behind his own tax cut. This is what presidents are supposed to do. [my emphasis]
We now have a Democratic President who wants to phase out Social Security.


Paul Krugman, Obama’s Hostage Deal New York Times 12/09/2010: "One big concern: Republicans may try using the prospect of a rise in the payroll tax [after 2011 in Obama's tax deal] to undermine Social Security finances."

Julian Zelitzer, Obama is dealing away FDR's legacy Salon 12/10/2010

William Greider, Obama Threatens Social Security The Nation 12/09/2010:

The most dangerous feature in the president's proposed compromise on taxes is not the $700 billion tax cut for billionaires. It is the Trojan horse provision that threatens to destroy Social Security by undermining the longterm solvency of the social insurance system.
Tags: ,

| +Save/Share | |




FEATURED QUOTE

"It is the logic of our times
No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."


-- Cecil Day-Lewis from Where Are The War Poets?


ABOUT US

  • What is the Blue Voice?
  • Bruce Miller
  • Fdtate
  • Marcia Ellen (on hiatus)
  • Marigolds2
  • Neil
  • Tankwoman
  • Wonky Muse

  • RECENT POSTS

  • Canary in the coal mine? Obama's popularity
  • Politics of despair (2): What happens now?
  • Politics of despair (1): Obama and the prospects f...
  • Some say the Earth is round, others say it's flat....
  • Obama pushes for the tax deal, eager to plunge int...
  • Obama on tax subsidies for billionaires
  • The perspective of corporate Democrats
  • What one of the Very Serious People thinks about h...
  • Jane Hamsher vs. Social Security Phaseout
  • Jerry Brown and the new year

  • ARCHIVES




    RECENT COMMENTS

    [Tip: Point cursor to any comment to see title of post being discussed.]
    SEARCH THIS SITE
    Google
    www TBV

    BLUE'S NEWS





    ACT BLUE











    BLUE LINKS

    Environmental Links
    Gay/Lesbian Links
    News & Media Links
    Organization Links
    Political Links
    Religious Links
    Watchdog Links

    BLUE ROLL


    MISCELLANEOUS

    Atom/XML Feed
    Blogarama - Blog Directory
    Blogwise - blog directory

    Blogstreet
    Haloscan


    Blogger

    hits since 06-13-2005

    site design: wonky muse
    image: fpsoftlab.com