Monday, February 27, 2012

The economy is shrinking

In a just world, all income would be subject to the Social Security payroll tax and Social Security would pay 70-80% of what people made on average during their lifetime. Europeans get that benefit. Surely older Americans deserve it, too.
Meanwhile billionaires pay 12-17% federal income tax. In a just world, they would pay 80-100% with the proceeds going to pay, among other things, a decent Social Security benefit so older people do not have to be forced to work. Or eat cat food. It says a lot about reporting on this issue that the fact funds exist is completely ignored.
Tips for saving money is great. But let's not forget this is a manufactured crisis. It's not an act of God. People decided outsized tax breaks are more important than forcing older people to work and even starve. We could, and should, change policies.