The CEO Plan to Steal Your Social Security and Medicare

[Haiku]

Corruption plain and simple. Who writes the laws in this country and why?

Many people are following the presidential election closely with the idea that the outcome will have a major impact on national policy. However, according to Steven Pearlstein, a veteran Washington Post columnist and reporter, it may not matter who wins the election. In a column last week, Pearlstein told readers that the top executives of some of the country's largest companies are getting together to craft a budget package that they will try to push through Congress and get the president to sign.

While Pearlstein clearly sees these backroom meetings of corporate chieftains in positive terms (he refers to them as "grown-ups" who have been noticeably absent from the conversation about the budget), the rest of us might view this plotting a bit differently. As Pearlstein openly acknowledges, this corporate coup is an end-run around the electorate. As corrupt as the political process may have become, at least we will get a vote in the election. Pearlstein's plotters are not inviting the rest of us into the conversation.

Many of the same folks who brought the economy to ruin just a few years ago are now going to come up with a plan that is supposed to set the budget and the economy on a forward path. At the center of their proposal are big cuts in Social Security and Medicare.<snip>

This is how things are done, behind closed doors without our participation.

<snip>The corporate CEO crew is also considering a plan to raise the normal retirement age for Social Security to 69. And, they want to reduce the benefit formula for high-income workers, which, incredibly, they define as people who earn more than $40,000 a year.

Their main trick for Medicare is to raise the age of eligibility from 65 to 67. Apparently, our CEO gang has not discovered that the health insurance market for older people is a disaster. They also continue to promote the misconception that the problem is Medicare and Medicaid.

These programs are actually much more efficient than private insurers. The real problem is our private-sector health care system which already costs more than twice as much per person as the average in other wealthy countries, with few obvious benefits in outcomes.

The scary budget projections that our CEOs like to tout assume that health care costs will exceed 20 percent of gross domestic product in a decade. That would imply costs of more than $34,000 for a family of four in today's economy. And these costs are projected to keep growing through time.

The normal response to this situation would be to focus on the need to fix the health care system. But many of Pearlstein's CEOs profit from the waste in the health care system, so they would rather cut our Medicare benefits.

So there you have it, the richest people in the country - the big gainers from economic growth over the last three decades - have plans to cut Social Security and Medicare benefits for current and future retirees.

So there you have it, the richest people in the country - the big gainers from economic growth over the last three decades - have plans to cut Social Security and Medicare benefits for current and future retirees.<snip>

For a break down on how this would work read the rest of the article here.. http://truth-out.org/news/item/10600...y-and-medicare

[dixon76710]

well, if Congress wont submit a budget, might as well have someone else submit one.

[Haiku]

Congress, owned and operated by the CEO's....this is not democracy. The SS system financed many of the tax cuts on the right...it isn't part of the debt. Taking care of our elderly, poor, disabled etc. is moral and the current system is very cost effective unlike privatized programs. ie...take a look at our privatized military if you want to see gross abuse of taxpayer money.

[Rationalist]

The SS system financed many of the tax cuts on the right...it isn't part of the debt.

Huh. So what are your thoughts on Obama's payroll tax cut?

[dixon76710]

Congress, owned and operated by the CEO's....

If congress were owned and operated by CEOs, they wouldnt be suggesting budgets to be adopted by Congress.

[PostmodernProphet]

Corruption plain and simple. Who writes the laws in this country and why?

lately that would be Harry Reid.....

[Haiku]

Huh. So what are your thoughts on Obama's payroll tax cut?

If you're referring to the lower SS payments I didn't like it on it's face but then I thought about how my generation payed extra all our lives. We supported our parents generation, our generation and want to pass it on. The fact that it pays for it's self and costs damn little to administrate and helps millions of people is all in it's favor. If you're asking if I think the dems are part of the attack, yes, I think they are.

If, however, you're referring to his most recent tax cut to those making less than $250,000, I'm all for it. Do away with the Bush tax cuts to the rich and raise their rates, close the loop holes.

[PostmodernProphet]

If, however, you're referring to his most recent tax cut to those making less than $250,000, I'm all for it.

???....what tax cut would that be?......