Bush: No Payroll Tax Hike for Social Security

[underpants]

Well Georgie Saint Ronnie did it and it worked....oh never mind.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20041209/ts_nm/bush_socialsecurity_dc&e=1

WASHINGTON (Reuters) - President Bush (news - web sites) ruled out raising payroll taxes to help pay for Social Security (news - web sites) reform, a transition experts have estimated will cost $1 trillion to $2 trillion.



"We will not raise payroll taxes to solve this problem," said Bush, ruling out a solution advocated by some experts.

[shrike]

1. "No, we will borrow and thereby bankrupt the country."

That's the plan.

[liberal N proud]

2. We will just eliminate the entire program and for those who

loose, too bad!

[RealLiberal4U]

3. It ain't nothing but money

So, let's borrow some more!

[underpants]

4. Welcome to DU

:hi:

We can't be ought of money WE STILL HAVE CHECKS!!!

W is running this just like all the other bidnesses he "ran" huh?

[MADem]

9. Or print more

And watch the dollar drop like a stone.

They'll be like Iraqi dinars--do I go out with a sack of them to buy a roll of buttwipe, or just use them instead of making the trip to the store?

[flpoljunkie]

5. As krugman said, there is NO Social Security crisis, nor

will there be in the future if we make small adjustments to the program, like raise the ceiling, reinstate estate tax above $3.5 million--unless Social Security is privatized.

Wall Street is salivating for this money. We must not let it happen! Social Security should be mended, not ended so that it can continue to be the guaranteed safety net it was set up to be.

[tanyev]

6. This just in.

Secretary of the Treasury John Snow has announced a new plan to fight this country's growing deficit. "We are going to replace the question on all American's tax returns which asks if you would like to contribute $3.00 to the Presidential Campaign Fund. We will instead be asking if you would like to donate $3.00 to paying down the deficit. These funds will then be invested in Powerball Lottos nationwide. We expect the revenue generated to take care of the deficit within five years."

Snow responded harshly to some critics. "It is obvious from all of the corporations and very wealthy people clamoring to donate money to Republican candidates that federal funds are no longer necessary for our elections. And there is absolutely no truth in the accusation that this strategy will take money away from poor people. Let me emphasize that we will only be investing in jackpots that exceed $100 million. No poor person would know how to manage that much money anyway. After they buy a house, car, and a few restaurant meals, what else do they need?"

President Bush clearly approves of the new plan. "Yep, that's why Ol' Snowball gets to keep his placemat at the Cabinet Table a little while longer. I knew he had to have at least one good idea in him," he yelled at reporters as he strode forcefully across the White House lawn to a waiting helicopter. After a pause to appreciate his own humor, he continued, "Naw, seriously, we're gonna look at using some of that lotto revenue to help out Social Security, too. Not that my plan needs any help, but maybe this will finally shut up those people that are still whining. What's that old saying? We can kill two birds with a bird in the hand." The president then gave a casual wave and vaulted athletically into the already ascending helicopter.

[underpants]

7. Brilliant

Very funny

[Straight Shooter]

23. LOL

Very funny!

Send it to free republic; they'll think it's real, especially the part about vaulting "athletically into the already ascending helicopter."

Damn, that's funny!

:D

[muriel_volestrangler]

25. Bravo

It's a shame we can't nominate replies for the front page.

[tanyev]

28. Why, thank you.

As a matter of fact, I did start a separate thread on this last night and it promptly sank like a stone.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=2809153

I don't know who you've got to sleep with to get noticed around here....

[Festivito]

8. Gifts to the richest can now hurt the poorest even more.

SS would have been fine under Democratic control, if Bush had not given away our security with his huge debt-tax increase. The whole RepubliCON party is ignorant of its own sadism.

[Javaman]

10. Like I said yesterday, "I'm dreaming of a 10 trillion dollar deficit..."

[Just Me]

11. I guess they're trying to completely destroy our existing economy,...

,...so they can create their utopian "free market".

The neoCONfascists ought to scare the shit out of people.

:scared:

[Harlan James]

12. George "Put It On The Card" Bush

As in all things in his life, Shrub is willing to put the cost on the tab and leave it for someone else to pick up.

[CornField]

13. Why should us young-uns help to care for all the old-uns anyway?

It isn't like we might be there someday ourselves. I mean between the raping of the environment, all those kids dying overseas, a failed foreign policy promoting more terrorists attacks and so-forth, the odds are 100 to 1 that any of us ever make it to 62, much less 65.

[tx_dem41]

16. Brilliant example of poisonous cynicism. n/t

[Straight Shooter]

24. No kidding.

The deficit is ever so much bigger a burden on the next generation than Social Security benefits. And as a self-employed person for most of my working years, all my contribution was from my meager pocket into that glorious saggy bag of Social Security milk that might dribble a little, or maybe not, when I stagger up to the teat of democracy.

Of course, I'll never make it to retirement age which they'll keep pushing up every few years. That's the real rub. Don't you worry, children, you won't hafta pay for nuttin'
____________________________________

Great phrase: "poisonous cynicism"

[dflprincess]

14. They don't have to raise the tax

just remove the cap so it is paid on all earned income.

[MaineDem]

18. Exactly

I remember hitting the limit towards the end of the year back when I was working. I wouldn't have minded paying on all of my income (although I did like those weeks with more money.)

[central scrutinizer]

29. then you paid exactly as much as Bill Gates

did. That sounds fair.

[FloridaPat]

22. You really think companies are going to pay all that money

on the CEO's that make $1 million? Bush didn't give them that tax break just to have them pay it through payroll taxes.

[FloridaPat]

15. This is pure bull. The payroll taxes have been raised every year

for the last 10 years by raising the limit on the income that will be taxed. Bet it keeps happening.

[tx_dem41]

17. To be fair that is a COLA raise tied to inflation rate.

Benefits (outflow) has risen as well every year.

[FloridaPat]

21. These are not benefits. 10 Years ago, if you made over $40,000

you did not pay payroll taxes on that money. OVer the last 10 years, every year that figure has gone up. Today it's around $90,000. That means for those folks making $90,000 or more, payroll taxes have doubled over the last 10 years. That also means companies taxes for payroll have also doubled on the highest paid employees. This is a lot of money. People are paying almost the same amount they'd receive monthly.

[tx_dem41]

26. Being around that payroll range.....your numbers are way off!

I just found the historical rates and cutoffs on the 'net.

http://taxpolicycenter.org/TaxFacts/TFDB/TFTemplate.cfm?Docid=45&Topic2id=50

In 1994, the cut off was at 60,600. Today its 87,900.

Now, we both have a point. The rate of increase has gone up at a rate slightly above accepted inflation rate tables, but you do HAVE to take into account inflation.

[Eurobabe]

19. we'll slap it on the MasterCard!

priceless....

[SoCalDem]

20. Of COURSE he won't increase them..he will leave THAT task

to his successor. That way when a democrat takes over and starts trying to clean up the MESS *² created, his minions can all chant , in unison..."______ wants to RAISE YOUR TAXES".. Bwaaaawk...Bwaaaawk ! just like the parrots that they are :puke:

Once they have completely looted the treasury, they will HAVE to leave office, since they never want to actually do the difficult things.. So the true-believers will skulk off to their $1M plus lobbying jobs and bide their time until the treaury is once again, ripe for the picking.. It's ALWAYS been this way, and I don't see it stopping.:(

[UpInArms]

27. I think that they "clarified" *Co's statement this morning

there was a "scroller" that said:

Taxes would not be raised during the overhaul of Social Security.

Another trick with smoke and mirrors.

:argh: