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View Diary: 100 richest people could end extreme poverty in the world right now (141 comments)

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  •  Social Security was designed to be a... (5+ / 0-)

    regressive tax for one reason: so that the elite wouldn't organize against it -- though at the time of its inception -- the architects of the program thought that income inequality could be held in check, and not be allowed to grow even wider than it was back in the Vanderbilt/Rockefeller/Carnegie days. They were wrong, obviously. Over time, the conservatives were able to chip away at trust-bustin' laws, acquiring untold profits while weakening "entitlement" protections at the same time.

    Social Security taxes are totally regressive, only taxing the first $100k or so of income. Often this is the major tax for the working poor.
    FDR's heart was certainly in the right place. He wanted to ensure that the country's elite couldn't get away politically with calling Social Security a "welfare program" instead of what it really is: a universal unemployment insurance program.

    It's only through the rising income inequality, that the elite have been able to become emboldened enough to organize against the program today. i.e., the Pete Petersons of the world and of course their sycophantic, over paid shills in Washington.

    They're coming for it.

    We must fight back with every ounce of our collective strength to protect Social Security and Medicare -- lest we devolve into a full-blown plutocracy.

    "That men do not learn very much from the lessons of history is the most important of all the lessons of history." ~ Aldous Huxley

    by markthshark on Sun Jan 20, 2013 at 04:04:55 PM PST

    [ Parent ]

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