The War on Middle Class America

The Republicans would have us believe there is something wrong with Social-Security because they would like to dismantle Social Security and leave the elderly to sleep on park benches. The Republicans view Social-Security as a "socialist" redistribution program which favours the middle class more than millionaires and billionaires. 

Furthermore, the Republicans would rather us to entrust our life savings with Wall St. Banks like Goldman Sachs instead of in a guaranteed Social Security Trust Fund. Social-Security is, after all, a pay-as-you-go system which doesn't accrue profits for the super-rich.

The truth be told, there is nothing wrong with Social-Security's Financial Position. The "Trust Fund" has been running a surplus for decades and now claims trillions of dollars worth of governmental treasury bonds which will be repaid to the American People.

The "imagined" scenario of Social-Security's so-called problem is that conservatives are predicting the economy will grow much slower in the future than it has before.  A slower growing economy would mean a slower growing revenue base, which in turn would mean a financial problem for Social-Security.

Nonetheless, there's no reason to believe that the economy will grow much slower between now and 2075 than it has grown for over two centuries. Should the economy continue growing in line with the historical average, the entire "projected" imbalance will disappear off the books and Social-Security will continue mailing uninterrupted checks.

Instead of raiding Social-Security or privatizing Social-Security, we need to examine sensible methods for transforming Social-Security into an even better program. We could, for instance, lift the payroll tax ceiling to make sure that the super-rich contribute a fair share. We could eliminate the payroll tax on small businesses to revive job creation and grow the overall taxable base. We can and should introduce a Guaranteed Minimum Benefit to make sure all of our elderly men and women receive a humane income.

The Debate on Social-Security should never include calls for making people work more before being able to collect what they've paid into the system. Social-Security was designed to be an insurance program where you contribute into the system while you're working and then you receive a guaranteed fixed income in your old-age. Forcing people to pay more in exchange for less in return would be unfair and would contradict the entire purpose and intention of the program. 

All Americans should stand behind Bernie Sanders, a man who has taken a progressive leadership role on this matter and a man who is fighting in the Halls of Congress to preserve Social-Security for America's hard working middle class families.