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DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Paul Krugman Tells GOP Se... » Reply #44

Response to CTyankee (Reply #12)

Sun Mar 10, 2013, 06:37 PM

44. And it's the right thing....

It is a simple thing to do and it's the right thing.

To avoid the political problem of increasing taxes (or to pay for a tax cut) on income to pay the general (the key word) obligations of the government, both parties took to raiding Social Security funds that now have to be paid back.

You can to do it with a income tax increase - or - you can pay it back by lifting the cap. Lifting the cap is fair because it means that those earning above the cap now have to pay the taxes they avoided. Both had benefited from the service; but only one paid.

The argument will come back that S.S. is pay as you go with each recipient getting the same amount. That is true, until you understand that S.S. funds were used for the general obligations of the government for which those above the cap did not pay a penny.

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LineLineLineLineLineReply And it's the right thing....
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