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Guest Column: 2024 Candidates Should Protect Social Security
“South Carolinians have worked hard to earn their retirement benefits …”
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You cannot expect Republicans to protect Social Security and Medicare. They need to cut those programs so they can cut taxes on the richest Americans. For decades now the Republican Party has been cutting the taxes of the wealthiest Americans and the wealthiest corporation. The cuts have caused the annual deficits to surge. Trump ran the largest annual deficit in history, following his tax cuts, 95% of which went to the wealthiest 5% of Americans. So now they need to cut spending and so they turn to Social Security and Medicare to find money. They cannot raise taxes on their rich donors and they cannot cut defense spending, so they go after their Social Security and Medicare.
Republicans have no intention of cutting Social Security. However if both parties really want to do something to help older Americans, they would abolish federal income tax on SS payments. For many it would mean an extra 150.00 to 200.00 a month and God knows with the way the government is spending now, the lose of that income would be miniscule. Cut some of the damn green energy bullcrap funding to make up the difference.
How can you say Republicans have no intention of cutting Social Security and Medicare? They have been trying to do exactly that since Paul Ryan was Speaker, and they keep bringing it up over and over. Of course, they plan to cut what they call ‘entitlements;” and they want to do it for the exact reason Frank said. To lower the deficits caused by their tax cuts. Tax cuts which were made at a time when corporations were already earning record profits; which were targeted to almost exclusively benefit the top 5% of Americans; and which those same Corporations then used to do stock buybacks, not to lower costs for consumers. A classic reverse Robin Hood.