editorial -- January 28, 1998
Prune Juice in Florida
Your Tax Dollars at Work
You'd think that after years of easy access to White House interns, President Clinton would be tired of screwing Generation Xers. Apparently, that's not the case, given his proposals in the State of the Union Address. Clinton's plan to apply budget surpluses to "save Social Security first" amounts to a de-facto increase in Social Security taxes.
Let's not mince words. If you were born after 1964, you'll never get your promised retirement benefits from Social Security. Your elders will have long since spent all of your Social Security tax dollars sipping prune juice cocktails at their condos in Florida. When Clinton promises to "Social Security first," he's talking about taking even more Social Security money from younger workers to make sure his fellow Baby Boomers don't get cut out of the deal. His plan won't save Social Security for young people. It will save it for the Boomers on the backs of young people.
In all fairness, Clinton's proposal does not call for an overall tax increase. The dastardly plan is far more insidious. By using the surplus to fund Social Security, the plan radically alters the manner in which Social Security is funded. Until now, the program has been covered by a specific payroll tax of 12.4 percent. Instead of raising this tax, Clinton wants to start using general tax revenues to fund the system. Once that happens -- even for just a little bit -- the sky is the limit for future allocations. All those Generation X tax dollars that used to go to national defense, the police and education will start being sucked into the giant black hole of Social Security. Say goodbye to government services and tax cuts; the flower children need your money to help finance their Florida condos.
Unfortunately, President Clinton isn't alone with his proposal. Another Boomer, House Budget Committee Chairman John Kasich (R-OH) has already issued a similar plan. With such powerful supporters, the evil plot is almost certain to become reality.
Seeing the Whites of Their Lies
The Social Security Budget Beachhead, October 7, 1997