Saturday, January 30, 2010

Why are Republicans trying to breach the US Citizens Contract with America?


-by David Sherbula

I got my first job at 15 bundling and tying newspapers at a local community newspaper. I paid federal, state, Medicare and social security taxes. I was told this was to provide me with benefits in retirement. I was only making $2.25 an hour, but I was glad to have the job. The deductions from my paycheck for taxes did not bother me. I understood the U.S. Government would provide for me in my retirement. That was a contract in my mind. My payments on that contract have continued for the next 34 years.

But Paul Ryan (R-WI) and his GOP Roadmap to the Future want to tear up that contract.

Why? Because I am not 55.

Think about it. We have bailed out failed banks and insurance companies so they would not breach their contracts. 100 cents on the dollar. Ryan, of course, not only voted for the bank bailout, he twisted the arms of reluctant Republican colleagues to do the same. Why is the contract with citizens of the U.S.A. less important than a contract between a bank and an insurance company?

Paul Ryan (who I believe is speaking for the Republican Party) wants to reduce the benefits I have been paying in to for 34 years. He would like to replace them with subsidies to buy health insurance from the private corporations that have donated $528,751 to his political campaigns, the most of any member of Congress from Wisconsin in history. Those subsidies are woefully inadequate, and would go to the insurance companies that have been so very, very generous to him. He also wants to change how the contributions to Social Security work (so Wall Street would get their piece) and the benefits. And raise the retirement age again. (Thank you, President Reagan, for me having to work till 67. Now Ryan wants me to work till 70?)

Why would anyone trust their money on Wall Street today? We have a lack of regulation, and a history of criminal behavior (see Enron, MCI, Madoff ) that has wiped out people's retirement funds.

The Roadmap would also change the tax code, but not in a good way. The highest rate would be 25% for people making over $100K per year, and it would lower the corporate tax rate, and for a kicker eliminate the estate tax (aka by Fox News "the death tax"). Maybe it's just me, but after your first few million in income, don't you think a 50% marginal rate is not unreasonable for the privilege to live in a country where you were able to make that much money?

I wonder if Congressman Ryan's Roadmap includes cutting out the banks from skimming money off of student loans? What about eliminating the anti-trust exemption for health insurance companies? Not to mention eliminating preexisting condition exclusions or being able to cancel your policy for health reasons.

Paul Ryan's Roadmap looks more like a treasure map for the wealthy, corporations and insurance companies than a Rand McNally Road Atlas for middle class survival.

Had enough of Paul Ryan? Powerful interests want to set him up to run for president. Please help Paulette Garin stop him now.

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At 3:19 PM, Blogger Joshua Skolnick said...

I am unfortunate enough to live in Ryan's district, and he occasionally sends me rightwing talking point propaganda at taxpayer expense, using the franking privilege. One other horrifying thing in his "Roadmap" that I gleaned from his mailings is that he wants to completely eliminate taxes on capital gains and dividends as well. Imagine paying no taxes while you sit by the pool, watch your money grow and sip drinks with umbrellas in them, while the poor schlub serving you the drinks pays taxes for the privilege of serving you the drinks.

At 9:16 AM, Blogger kcmulticast said...

we won't have to imagine it. just wait 20 years and that will be 90% of Americans' lives. Didn't you know America was meant to be a nation of slaves and owners?


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