Just hours after President Obama said that Social Security cuts and privatization are off the table, Cantor said that Social Security had to be cut to balance the budget. But here’s the thing: Social Security does not and never has added a single dime to the federal deficit.
Let me try to explain this to Mr. Cantor. Social Security is paid for through the payroll tax. Currently, the payroll tax raises way more money than Social Security pays out and things are projected to keep going this way for another couple of decades.
The wars in Iraq and Afghanistan? They add to the deficit. Tax breaks for billionaires? They add to the deficit. Subsidies for big oil? They add to the deficit. Bailing out Mr. Cantor’s friends on Wall Street when they make a bunch of shady deals, cause a financial crisis and almost ruin the world economy? That adds a lot to the deficit.
Simply put, Social Security will run a surplus for decades. The rest of the budget runs a deficit. So, why are we even talking about Social Security?
Here’s why: Eric Cantor and his right-wing friends want to destroy Social Security.
Eric Cantor’s comments aren’t anything new. Right-wing Republicans have been trying to tear down Social Security for generations. It’s the holy grail of the right-wing.
Now Republicans are playing with fire — they’re threatening to shut down the government. They’re holding the debt ceiling hostage. They’ll do whatever it takes to put cutting Social Security on the table.
There is a solution to keep Social Security safe, stable and secure forever.
See, right now people like Mitch McConnell and Sarah Palin don’t pay the same percentage of their income into Social Security that most Americans do — and big surprise — neither does Eric Cantor. That’s because the tax is capped at $106,800. All we need to do is scrap the cap and make the payroll tax fair and equal for everyone, That will keep Social Security safe, stable and secure.
I’m referring to campaign contributions made to House Republicans and some Democrats by Wall Street and the For-Profit Medical & Insurance Industry, who are hell-bent on destroying Social Security and Medicare. They take millions, and then we need to do away with Social Security and Medicare. At first, the Republicans purposed that we ‘privatize’ both to “protect them”…but everyone knew what that really meant! When tax payers said, “no way”, the Republicans changed their tune and said, “Social Security needs to go”. Why aren’t the criminals behind this attempted theft our tax dollars and the destruction of our economy in prison. People are out of work, being thrown out of their homes, Corporations are using our tax dollars to relocate to China and other countries and then receiving tax breaks, subsidies and other incentives that they don’t deserve and Republicans are calling for MORE tax breaks for Corporations and the Rich! The Republicans want to pay for all of this with your Social Security and Medicare!
Aren’t corporate campaign contributions with strings attached, really bribes? If so, as they clearly are…why aren’t these white collar criminals in prison?!