The Attack on Social Security

Despite claims Republicans make about Social Security being a major factor in the current deficit, Social Security is still operating with a surplus.  Admittedly there is less revenue coming in than going out, but earned interest on the surplus keeps the program's bottom line in the black.  Social Security's only effect on the budget at all is in the earnings from the invested surplus.

Cutting benefits to retirees would not directly effect the deficit as Social Security is funded by a separate payroll tax, and not part of the general budget.  Republicans are not really serious about lowering the deficit by cutting Social Security benefits, instead they want to demolish the program because it has been so successful in its mission.  A government run program that is universally loved and much better managed than any private plan could be, shows the flaws in their drive to turn all of our basic needs into a for profit scheme.

One of the things that works to Social Securities detriment is the tax supporting it relies on a robust middle class.  Unlike other taxes that increase as income increases Social Security only taxes the first $128,400 a person earns.  As wealth gets more concentrated in the hands of people earning many times this amount there is less to go around per person.  Also this income is taxed at a flat rate of 12.4% rather than a progressive tax that is more fair to low wage earners.

Republicans see funds like Social Security as a large pot of potential profit for themselves and their wealthy donors.  The first step in getting to this money is to undermine confidence in the system that administers it.  No matter how they present it, they have no altruistic intent to save Social Security.  Quite the opposite their intent is to steal it.