A Quote by Nick Clooney

A salute from this corner to President Bush for saying he was willing to investigate raising or eliminating the cap on salaries subject to the Social Security tax. — © Nick Clooney
A salute from this corner to President Bush for saying he was willing to investigate raising or eliminating the cap on salaries subject to the Social Security tax.
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.
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.
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.
Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
President Bush is manufacturing a crisis by suggesting that Social Security is in imminent danger. It is not.
Taxes are important. President Bush's tax proposals leave no rich person behind. Voters approve of President Bush helping the kind of people they wish they were one of.
Congress must take some thoughtful and targeted steps towards long-term solvency in the Social Security program. One such step is to eliminate the cap on income that is taxed for Social Security.
For President Bush, the first, the 41st president, George Herbert Walker Bush, I spent all 4 years of his presidency on the staff for the National Security Council.
When George W. Bush was president, his daddy was raising money for the Bush library. I thought that was fine. When Bob Dole was Majority Leader, Elizabeth Dole was the president of American Red Cross. I didn't say anything.
The Bush administration, they had two blue ribbon commissions about infrastructure finance that recommended a lot more money, and additionally the gas tax being increased. We couldn't get them to accept being able to move forward. Since President Obama's been in office, there has been, to be charitable, a lack of enthusiasm for raising the gas tax.
Eventually we'll use a CO2 tax offset by a reduction in taxes elsewhere alongside a cap-and-trade plan, but the degree of difficulty associated with a CO2 tax far exceeds that with a cap-and-trade plan. We're seeing it's hard to get a cap-and-trade plan and it's much easier to use as a basis for a global agreement than a CO2 tax.
I was very concerned that President Bush is still trying to frighten or scare the American people with respect to the condition of the Social Security system.
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.
When President George W. Bush attempted to reform Social Security, that proposal was more unpopular with Americans than the Iraq war. People love their entitlements.
On issue after issue, the polls - and these are not snapshot polls; these are polls over a consistent period of time - show that most Americans share what one could call core liberal or progressive values: investment in health care and education over tax cuts; fair trade over free trade; corporate accountability over deregulation; environmental protection over laissez-faire policies; defending Social Security and Medicare over privatizing them; raising the minimum wage over eliminating it. The country prefers progressive alternatives to the failed policies of the conservative right.
As part of Social Security reform, I believe that private savings accounts are a part of it - along the lines that President Bush proposed.
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