So I just heard that John McCain might be open to raising social security taxes.
As if we didn't already have plenty of good reasons to vote for Obama, McCain decided to add one more.
As much as conservatives claim to love Reagan, why would McCain raising the social security tax rate bother them? After all, Reagan doubled the social security tax while giving the wealthiest Americans the biggest tax cut in American history.
In order to help make up from the loss of revenue from the tax cuts for the rich (rich people who pay less taxes than those in the middle class by the way) Reagan raided the social security trust fund and spent hundreds of billions of dollars.
On top of that he STILL had to borrow more money than all presidents (from George Washington to Jimmy Carter) combined, thus tripling the national debt.
Great, here we go again.
Under Obama's proposed plan, 90% of Americans (individuals making less than $112,000 a year) would pay less taxes compared to McCain's plan.
The difference comes from the fact that McCain gives small cuts for the bottom 90% and massive cuts for the top 1-10%.
Now it looks like McCain will follow in Reagan's footsteps, and rather than raising the social security cap up from $90,000, he will slash income taxes and corporate taxes and raise the social security tax which will hit the middle class the hardest. And I'm sure McCain will also push for rules to prevent anyone from spending the money that comes in from an increased social security tax, right?
So really, what are conservatives complaining about? I thought they loved Reagan? McCain apparently does, and I'm guessing he shares Ronald's ability to dramatically increase the national debt.