The White House is promoting the extension of the Bush Tax Cuts for the middle class (which should really be called the Obama-Bush Tax cuts, since Obama extended them in 2010) as exactly that, tax cuts. But the truth is, an extension of the tax cuts wouldn't be a cut at all, but would keep tax rates at the current rate. The Obama admnistration is implying on the official WhiteHouse.gov website that a tax cut is coming for the middle class when in reality if a deal is made by January 1, middle class families won't see a tax...
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There are fundamentally 2 issues with the Ponzi schemes: all of the funds in the (dis)trust funds have been spent and replaced with Special Treasury Instruments (IOUs), which must be redeemed, as required, from the general treasury; and, the current revenue streams are not adequate to cover all current benefits. Both programs are already "bankrupt", in any real sense of the term.
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