Reduced Social Security Revenues Cause Budget Crisis
Ten million people are chronically unemployed due to the Reality of the "Great Sucking Sound," predicted in 1992, by Ross Perot. Their long-term unemployment deprives the US Treasury of Billions in employee and employer employment contributions, not to mention the billions of dollars of reductions in Income Tax Revenues.
The GAO counts Social Security Revenues in the budget, even though the Presidential Candidates promised to put the money into a "lock box."
No one is telling the truth about the Real Rate of Unemployment. The numbers being published are bigger lies than the Nazi Propaganda disseminated during the 1940's.
The percentage of our National Economy, based on manufactured good, has dropped from 20% to only ten percent. That means 90% of our national production is based on services and only ten percent on manufactured goods.
Not published is the National Payroll Statistics. The amount of money earned by American workers is far lower than what was earned in the 1970's, if you take out executive salaries and stock options. Just compare the hourly wages of the 1970's to the 1990's. It’s a shocking, and disturbing lower number.
Do you realize the long-term implications of that reality?
We are now spending more of our hard-earned money buying goods from China, than any other Nation has ever spent, in another country, in the history of the world.
Long Term--10 year--economic stimulus packages and tax cuts are ridiculuous. No one can predict our economy's status that far ahead. What is needed is short term stimulus like exempting the first $10,000.00 of payroll from social security taxes, until the economy recovers. Then, gradually phase the tax back in .
These lower income workers are the victims of the "regime' that came to power by appointment, two years ago.
The working class will spend the money, they get from "economic stimulus". Those that get dividends don't spend the money into the consumer market, they just re-invest it.
Remember, the stock market follows the economy.
The Stock Market Is Not THE ECONOMY!
Only CONSUMER SPENDING re-cycles the cash to help the economy.
Why should people making up to $50,000.00 pay SS taxes on all their income and those making more than $50K pay nothing after that point? All payroll income, including the CEO's $10 Million a year, should pay Social Security Taxes on all their wages, just like we do.
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