In response to:

Obama Administration Misleads the Country on Tax "Cuts"

firetoice Wrote: Nov 19, 2012 1:56 PM
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.
Roger116 Wrote: Nov 19, 2012 3:10 PM
IOW they "print" more money to pay them. Of course that makes the money worth less (Inflation). Inflation is already high if you use real figures including food and fuel which the government conveniently leaves out. Now as Food, Fuel, and Housing are our major 'variable" costs and are the most affected by inflation, it would be logical to include them when calculating inflation.

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 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...