June 12, 2011
Undermining Social Security
The oligarchy has had its greedy eyes on the Social Security trust fund for a long time, seeking to divert all those funds to Wall Street to goose up the stock market and enrich themselves with it. The problem is that people are rightly suspicious of efforts to tamper with their one secure source of retirement funds.
Since the Republicans have traditionally been seen as the servants of the oligarchy, people have quickly reacted when they make any moves to undermine Social Security, as George W. Bush painfully discovered in his second term. The oligarchy knows that they have a better chance when Democrats are in power, which is why we need to be especially vigilant and oppose the current moves by the Obama administration. The reduction in payroll tax contributions by employees that was part of Obama's budget deal at the end of 2010 was for me a sign that he was seeking to undermine Social Security by reducing its revenue stream, thus artificially creating a crisis where none should exist.
His latest proposal to give employers a similar reduction in their contribution to payroll taxes, thus further exacerbating the problem, is confirmation of the fact that he wants to set in motion the wheels to privatize Social Security.
We need to realize that Obama, although he may make some positive moves on some social issues dear to liberals, is barely distinguishable from the Republicans when it comes to being a servant of the oligarchy.