As our country heads toward the fiscal cliff, Republican Congressional leaders are going to be talking a lot about “entitlement reform”. Their position: they believe any “compromise” they make on tax revenues should be matched by deep cuts to “entitlement” programs.
Two things to remember, as you listen to Karl Rove and his buddies try to sell their position to the American public:
- For more than a decade, our country has borrowed from the Social Security Trust Fund to pay for tax cuts for the wealthy.
- The Social Security system has already turned the corner. On average, working families will receive less in Social Security benefits than we have paid into the system in taxes. “A married couple retiring last year after both spouses earned average lifetime wages paid about $598,000 in Social Security taxes during their careers. They can expect to collect about $556,000 in benefits, if the man lives to 82 and the woman lives to 85.”
Just how much more do they want us to “compromise”?