Let's talk Social Security here.
Those of you who follow national elections know that Democrats just love to demagogue the Social Security issue. In almost every federal election I can remember since I've been on talk radio ... .and there's been about 18 of them .... the Democrats have tried to frighten the Depends ® off our senior citizens with charges that the Republicans had a "secret plan" to end Social Security at worst, or were going to "slash" Social Security benefits at best.
Just why do you think the Democrats had to work so hard to trash President Bush's plan for a partial privatization of Social Security? Come on now ... this one is easy! If people own their own Social Security accounts, how in the wide wide world of politics will the Democrats frighten the wizened citizens with outrageous charges that the Republicans are going to take all or part of their Social Security benefits away? Tell that to a senior citizen who owns his own Social Security retirement account and he's going to laugh in your face!
It's true, though, The Republicans have had a plan for Social Security, and the plan was simply to allow people to own their own accounts. When you own your own account it can't be taken away from you. When you die you can leave it to your kids --- or to anyone you wish! Not only does the account belong to you, but you can actually invest the account so that it will earn you more than the average 1.5% or so that’s earned on that phony paper account you have with the Social Security Administration … if you’re lucky
The Democrats have a plan too. Really ... it's quite brilliant. Trust me, the Democrats plan is a sure-fire cinch to broaden the loyalty of the Democrat voter base, and to continue broadening it until Social Security finally collapses under its own weight.
Here's the plan, as presented by none other than N.Y. Democrat congressman Charlie Rangel. He wants to exempt the first $15,000 of wages from Social Security taxes! Not bad, huh? As I said, it's just brilliant! A wage earner making $30,000 a year is going to have his Social Security payroll tax bill cut in half! And remember, Charlie Rangel is going to be the chairman of the House Ways and Means Committee. That's where the tax bills are written.
But hold on. This won’t work because it’s going to cost Social Security big time, isn't it? How will Social Security get by without all of the taxes on that first $15,000 of income? Won't that hasten the demise of Social Security? Oh come on. I know you were born at night, but was it last night?
Of course this isn't going to cost Social Security anything. THINK! All the Democrats have to do is raise the earnings limit on the evil, hideous, stanky rich to cover the cost!