Home > Fande = Fact & Evidence, Original Thought, The Economy > Open Letter to President Obama

Open Letter to President Obama

Social Security, don’t touch it.

Mr. President,

I’ve gone to bat for you over and over again. I volunteered for you in 2008 and in 2012. I stand up for you in conversation and defend you on-line. But if you make any cuts to Social Security, that’s a deal-breaker.

We voted for you to stick up for us, not take advantage of us. Don’t give in to Republicans. Stand up to them.

No cuts to Social Security. Instead, lift the $100k salary cap on contributions to Social Security, so that millionaires and billionaires pay their fair share into the system that everybody uses.

And no means-testing either.

https://fandecande.wordpress.com/2012/07/13/transcription-of-paul-krugman-on-cnbcs-squawk-box-july-11-2012/

Paul Krugman: “That’s actually, that’s not actually right, by the way. It’s certainly not true. What matters is life expectancy at age 65, and that is higher for more affluent people. But think about how many billionaires are there? The amount of money you can save by means-testing Medicare turns out to be trivial. And, by the way, if you do means-test it, what you have done is increased marginal tax rates because you’ve said if you make more money then you will lose your Medicare benefit. That’s actually reducing incentives.”

Sincerely, your fellow American,

Justin Bass

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Read more:

http://www.nytimes.com/2013/04/05/us/social-programs-face-cutback-in-obama-budget.html?hp&_r=0&pagewanted=print

EXCERPT:

“President Obama next week will take the political risk of formally proposing cuts to Social Security and Medicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say.”

http://opinionator.blogs.nytimes.com/2013/03/06/the-war-on-entitlements/?ref=opinion

EXCERPT:

“The same C.B.O. document presents a series of alternative ways to achieve such a goal, including the elimination of the current $113,700 cap on income subject to the Social Security payroll tax. If the cap or ceiling were lifted, the amount of money raised would be 0.6 percent of G.D.P., the exact amount of income needed to get Social Security out of the red — a striking coincidence.”

http://articles.latimes.com/2011/feb/14/opinion/la-oe-sanders-social-20110214

EXCERPT:

“Further, despite the manufactured hysteria about a crisis, Social Security has not contributed one penny to the very serious deficit situation the United States faces. Social Security is fully funded by the payroll tax that workers and their employers pay; it’s not paid for by the Treasury. Our deficit has been, in recent years, largely caused by the cost of two wars, tax breaks for the rich, a Medicare prescription drug program written by the insurance and pharmaceutical industries, and the Wall Street bailout — not Social Security.”

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http://www.aarp.org/politics-society/government-elections/info-04-2013/older-voters-oppose-switch-to-chained-cpi.html

EXCERPT:

“In particular, 84 percent said that they oppose reducing Social Security benefits as a means of reducing the federal budget deficit. The same percentage of older voters said that the future of the retirement security program should be considered separately, and as the graph below shows, political affiliation made barely any difference.”

picture source: http://en.wikipedia.org/wiki/File:President_Barack_Obama.jpg

File:President Barack Obama.jpg

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