A Quote by Bobby Scott
I think we should worry about Social Security first and then tax cuts second.
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What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
For decades the G.O.P. has won elections by appealing to social and racial divisions, only to turn after each victory to deregulation and tax cuts for the wealthy ? a process that reached its epitome when George W. Bush won re-election by posing as America's defender against gay married terrorists, then announced that he had a mandate to privatize Social Security.
Everything [Ronald Reagan] got, the tax cuts, he had Democrats outnumbering him in the House and Senate everywhere. There were certain realities that he faced. But the biggest tax increase on Social Security was authored by none other than Bill Clinton.
It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.
The debate over Social Security should not be about how much we can cut from the program in order to balance the federal budget. The debate over Social Security should not be about raising the retirement age or limiting benefits. The debate over Social Security should be about retirement security.
You are smart people. You know that the tax cuts have not fueled record revenues. You know what it takes to establish causality. You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one.
Republicans drove us into debt with two wars and the Bush tax cuts. Now they want to pay for that debt with cuts to Social Security, Medicare and Medicaid. This is not only immoral it is bad economics. Why do Republicans always have money for war but not for those in need?
I think that [Barack Obama] does say something that's - that is telling on that score, when he talks about the [George W.] Bush tax cuts and the swap he makes after the midterm elections, which is he doesn't agree with the Bush tax cuts.
The conversation should've been about middle class people. The conversation should've been about how to raise the minimum wage and strengthen Social Security. But then we started talking about this whole email stuff again. And now the outcome is that, you know, Donald Trump has somebody who he's looking at to put on his Cabinet who's a lobbyist to privatize Social Security.
Now, Social Security through the years, for many many people, has been a terrible investment. It's really a tax, that's all it is. Social Security is a tax.
Should we freeze or postpone prospective tax cuts and avoid any new tax cuts until we are sure we have the money to pay for the war on terrorism and the war in Iraq.
Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric.
First of all, the Social Security money belongs to Main Street, not to Wall Street. It needs to be said very clearly here that privatization is off the table... Social Security, as a matter of fact, is a better investment now than the stock market. There's a higher return. There's guaranteed cost-of-living increases. Privatization you have to worry about the value of your account.
What Donald Trump is proposing with these massive tax cuts will result in a $20 trillion additional national debt. That will have dire consequences for Social Security and Medicare.
Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.
Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.
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