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Senator Mike Rounds (R-SD) appeared on CNN’s State of the Union with Jake Tapper. He wants Wall Street to get your Social Security if you read between the lines.
Will Wall Street get your Social Security?
Senator Mike Rounds of South Dakota did not dismiss support for Rick Scott’s program to sunset Social Security, Medicare, and Medicaid. Instead, he bloviated and hunkered down.
Rounds used the more affluent pundits on the program to make a nonsensical point. He assumed they have good private retirement plans and that they have no substantive government dependency. He did this to justify — without saying it explicitly — that privatizing at least part of Social Security is a possible option to sure it up if they come back into power, the presidency, the House, and the Senate.
Senator used the word ‘manage’ often as if our Social Security dollars are input to a stock portfolio. The Social Security fix is easy if politicians choose the only correct option, tax all income and wealth.
To combat the irrational nature of putting some or all of Social security on the books for Wall Street to pilfer and profit from, he implies that somehow the government will take the risk if Wall Street falters. If that is the case, why the hell put the money in Wall Street’s hand? Just tax all income, including capital gains and wealth. For those who balk at said taxation, remember that every middle-class American pays taxes on their capital every year. Stocks are capital. Real estate is capital. Your car is capital. Your home is capital. How come only the capital owned by most of us is taxed while the ones mostly held by the wealthy are not?
It is high time for us to enlighten ourselves about the world salad that Republicans and neoliberal use to fool Americans. The Social Security and Medicaid fix is simple. Tax all income and wealth. It will lower the taxes on most Americans and provide us with more services. Moreover, it is fair. It is time for the wealthy to stop being parasites. They’ve built their wealth on our intellect, service, and labor.
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remove the 140,000 caps on deducting social security taxes. tax all income like the rest of people earning less have to pay. lower wage earners pay the tax on every dollar they earn, those who are doing better should also.