Social Security In The Crosshairs Of The 1%

…Economist Dean Baker has posted an article on his blog that supports my general thesis that Obama is planning to cut Social Security etc following the election. Here’s an excerpt from the post:

“The plan is that we will get the rich folks’ deal regardless of who wins the election….The deal that this gang … is hatching will inevitably include some amount of tax increases and also large budget cuts. At the top of the list… are cuts to Social Security and Medicare. ….

Social Security amounts to 90 percent or more of the income for one-third of seniors. For this group, the proposed cut in benefits would be a considerably larger share of their income that the higher taxes faced by someone earning $300,000 a year as a result of the repeal of the Bush tax cuts on high income earners…

(“The One Percent Want Your Social Security and Medicare and Steven Pearlstein Is Trying to Help”, Dean Baker, CEPR)

There it is in black and white. Obama is just as committed to gutting Social Security as Romney. The only difference is that he’s a better pitchman. Much better.

http://www.informationclearinghouse.info/article32012.htm

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