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  •  I do not agree that the (0+ / 0-)

    "wealthy reaped the benefits of the Reagan tax cuts" is a false statement.

    I did not say it was only the benefits of the SS rearrangements under Reagan which you competently discussed.

    The wealthy have been raking in the nation's wealth since rates were cut in Reagan's "big tax flattening" of 1986.

    That needs to be raked back to the rest of the population.  Whether it is done by increasing SS benefits (which would immediately benefit the economy and thus other citizens) or through other means is less important to me than that is what is done.

    Look at this chart:  http://upload.wikimedia.org/...   Between 1980 (Reagan's election) and 1990, rates for the wealthy fell to the lowest levels in over 45 years.

    Shifting the burden:

    Personal income tax revenues declined from 9.4% GDP in 1981 to 8.3% GDP in 1989, while payroll tax revenues increased from 6.0% GDP to 6.7% GDP during the same period.[4] This represented a more regressive tax regime, with more revenue derived from the flat payroll tax versus the progressive income tax.
    Increased Payroll taxes (Social Security taxes) provided at least part of the backing for the borrowing made necessary by Reagan's Income tax cuts without corresponding spending cuts.

    "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

    by YucatanMan on Thu Mar 28, 2013 at 09:36:53 PM PDT

    [ Parent ]

    •  It's a Social Security Diary (0+ / 0-)

      in a Social Security Blogathon

      You were responding to a comment by me where I pointed out that one result of a Social Security cap increase would be to relieve the wealthy from any need to repay the cash they drew out of Social Security excess revenues by having that cash replaced by Special Issues only so issued to the Social Security and Medicare Trust Funds.

      Excuse me for thinking that your response was somehow related to Social Security and not just an out of the blue comment on 30 years of income inequality that somehow got embedded in a Social Security thread.

      My bad. I guess.

      socialsecuritydefender.blogspot.com - SocSec.Defender at gmail.com - founder DK Social Security Defenders group - (hmm is there a theme emerging here?)

      by Bruce Webb on Thu Mar 28, 2013 at 09:53:18 PM PDT

      [ Parent ]

      •  Silly me. I thought I gave you kudos. eom. (0+ / 0-)

        "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

        by YucatanMan on Thu Mar 28, 2013 at 10:02:01 PM PDT

        [ Parent ]

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