Tuesday, March 18, 1997 | 3:43 a.m.
I have long contended that the Republican version of the balanced budget amendment is specifically designed to get rid of Social Security (as well as Medicare), and my contention seems to be borne out by the fact Republicans are so adamant that Social Security be included in the amendment, all their phony declarations of "protecting Social Security" to the contrary.
Including Social Security in the current revenue and expenditures clause of the amendment would allow payroll tax revenue to be treated as just another general tax and allow it to be spent on anything Congress wants to spend it on. At present, it can only be spent on Social Security benefits and, if "borrowed," must be paid back. The BBA would wipe out this protection.
In my opinion, all tax-cut proposals should be dropped, top rates should be increased to balance the budget and payroll taxes increased slightly before any cuts are made in Social Security, Medicare, Medicaid, environment and education programs. Let the rich balance the budget by giving back some of the Reagan tax cuts and let the baby boomers assure their retirement benefits by paying higher payroll taxes, instead of penalizing current retirees who have already paid for their benefits.
Dan Olivier
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