Social Security Is Shortchanging the Baby Boomers - And It's Bush's Fault!

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Quote:

...As part of this concerted effort to end the embezzlement, New York Sen. Daniel Patrick Moynihan introduced legislation to repeal the 1983 payroll tax hike, so there would be no Social Security revenue to embezzle. But President George H.W. Bush, who had been able to avoid tax increases because of the availability of the surplus Social Security money, angrily denounced the proposal and used all the powers at his command to defeat Moynihan’s plan. The looted Social Security money must be repaid. If that is done, there will be enough resources to pay full Social Security benefits for at least 20 more years. Without repayment of the looted Social Security money, the government may be unable to pay full benefits as early as three years from now. ...

Social Security Is Shortchanging the Baby Boomers - And It's Bush's Fault!