Tuesday, March 2. 2004
Greenspan's Evil Plot
Alan Greenspan has called for cuts to Social Security, but the history behind how we got to this point shows that Greenspan has not been the independent economic guru we need. His agenda all along has been the same as BushCo - tax cuts for the wealthy. According to Paul Krugman:
I swear, if you don't keep an eye on these guys, they'll rob you blind.
Mr. Greenspan pushed through an increase in taxes on working Americans, generating a Social Security surplus. Then he used that surplus to argue for tax cuts that deliver very little relief to most people, but are worth a lot to those making more than $300,000 a year. And now that those tax cuts have contributed to a soaring deficit, he wants to cut Social Security benefits.
The point, of course, is that if anyone had tried to sell this package honestly — "Let's raise taxes and cut benefits for working families so we can give big tax cuts to the rich!" — voters would have been outraged. So the class warriors of the right engaged in bait-and-switch.
I swear, if you don't keep an eye on these guys, they'll rob you blind.
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