Brummett:Answer on Social Security is to tax the rich more!!!! (Part 1)

My sons Wilson (on right) and Hunter (on left) went to California and visited Yosemite National Park with our friend Sherwood Haisty Jr. March 21-27. Here they are standing in front of the tallest waterfall in North America

President Obama and other politicians are advocating higher taxes, with a particular emphasis on class-warfare taxes targeting the so-called rich. This Center for Freedom and Prosperity Foundation video explains why fiscal policy based on hate and envy is fundamentally misguided. For more information please visit our web page: www.freedomandprosperity.org.

In his article “Harry let us down,” (Arkansas News Bureau, April 4, 2011) John Brummett asserts:

If you want to start an argument between a liberal and a conservative, you need only open for discussion the question of whether Social Security is part of our federal deficit and debt.

I have been in the median on this issue and can tell you there is danger there from flying debris.

The heck of it is that both sides are absolutely right. Social Security is not part of our debt and deficit problem. And it is…

That is to say you reduce the budget deficit on its own terms with spending reductions and tax increases. And it is to say you concurrently make adjustments now to attend responsibly to Social Security’s longer-term sufficiency. The first simple fix: You tax income in excess of $106,000 for Social Security.

In the article “Can the rich save Social Security,” (USA Today, May 31, 2005) the concluding paragraphs make these observations concerning the same solution that Brummett suggests:

David John, a Social Security expert for the conservative Heritage Foundation in Washington  says denying the affluent benefits for added contributions would be a mistake. “That makes it a welfare program,” he says. “It requires abandoning the idea that Social Security benefits are tied to the contributions,” he says.

Liberals take an even harder line at denying benefits to the rich, saying the system should be considered a pension program. “It’s a breach of faith to make the wealthy pay and get nothing in return,” says Michael Ettlinger, director of economic analysis at the liberal Economic Policy Institute.

The idea that rich and poor are treated alike in retirement programs is so central that Kennedy tried to block the Medicare prescription drug benefit in 2003 because it charged the rich more than the poor. “Hold on to your hat,” he declared. “Today, Medicare. Tomorrow, Social Security.”

 “It’s the strangest thing,” says Bruce Josten, chief lobbyist for the American Chamber of Commerce and a supporter of cutting benefits for the affluent. “I (mention) cutting benefits for the wealthy everywhere I go, and I can’t find anyone willing to buy the argument — not politicians or even well-off people themselves.”

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Free-lance columnist Rex Nelson is the president of Arkansas’ Independent Colleges and Universities. He’s also the author of the Southern Fried blog at rexnelsonsouthernfried. com.

Rex Nelson wrote in the Arkansas Democrat-Gazette on April 2, 2011 a great article called “Arkansas Bucket List.” The readers of his blog http://www.rexnelsonsouthernfried.com came up with a list of things you must do at least once in your life to be considered a well-rounded Arkansan. Nelson asked others to add their suggestions at his website. I am going through the list slowly.

1. Attend the Gillett Coon Supper and actually eat the coon. (I have been thinking about going to this. I hear that all the politicans show up and I wonder if they eat the coon.)

2.  If you’re a man, attend the Slovak Oyster Supper. No women allowed. Buy some raffle tickets while there.

 

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