Greenspan was part of the 1983 Social Security Commission that recommended drastic increases in payroll taxes to create a surplus in the Social Security fund. This was done to ensure solvency of SS into the future. Payroll taxes are capped at $87,000, So this SS surplus was funded largely by the middle class.
Then Greenspan endorses the 2001 tax cut that raided SS, and then the 2002 tax cuts. And now SS is back in the crapper and he wants to drastically reduce the benefits of SS.
Greenspan is a reverse Robin Hood. He stole from the middle classes to fund Social Security, then took that money (that was specifically paid for by the middle class) and gave it away to the rich. i.e. People who will never need Social Security.
It's a shell game, and Greenspan needs ousted for backing such an irresponsible tax cut package. It almost seems purposeful....
|