Selected ShortsPosted: February 3, 2013
A new study reveals that the nation’s largest corporations paid more money to their CEOs last year than they did to the federal government in income taxes. Often using overseas tax havens, many of the corporations managed to make billions in profits but paid little to nothing in federal taxes. In many cases the companies received large tax breaks. The list includes some of the country’s best-known companies, such as Ford, Coca-Cola, Verizon, General Electric and eBay. The same study found that the ratio of CEO pay to that of the average worker in the United States jumped to 325-1 last year. (Institute for Policy Studies)
The Great Conservative — Ronald Reagan on Social Security
As our nation’s politicians discuss how to cut our Social Security benefits, we must examine the statements of former President Ronald Reagan, the hero of modern conservatives. (Who’d have thought we’d miss him so much?)
Social Security is Not an Entitlement
“Its’ not unreasonable for people who paid into a system for decades to expect to get their money’s worth–that’s not an “entitlement” that’s honoring a deal. We as a society must also make an ironclad commitment to providing a safety net for those who can’t make one for themselves.”
Social Security has Nothing to do With the Deficit
“Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employers and employees. If you reduce the outgo of Social Security the money would not go to the general fund but it would go into the Social Security trust fund. Social Security has nothing to do with balancing a budget or reducing or growing the deficit.”
Social Security is an Ironclad Commitment
In 1983, Reagan signed a bill to preserve Social Security. At that signing Reagan said “this bill demonstrates for all time our nation’s ironclad commitment to Social Security. It assures the elderly that America will always keep the promises made in troubled times a half century ago. It assures those who are still working that they, too, have a pact with the future. From this day forward, they have one pledge that they will get their fair share of benefits when they retire.”
…and from Chuck Schumer
On Jan. 25th, 2012 Senator Chuck Schumer’s office proposed cutting Social Security and Medicare benefits. Schumer, in support of corporate interests, is following the lead of the Business Roundtable this week that called for cuts in Social Security.
Specifically, Schumer’s office opened the door to cutting Social Security cost of living adjustments, in what is called call “chained CPI.” This benefit cut would take thousands of dollars away from seniors on fixed incomes.
Sen. Chuck Schumer needs to hear from someone other than business interests now. Call his office at 607-772-6792. An overwhelming majority of Americans oppose benefit cuts in Social Security, Medicare and Medicaid.