Letter: GOP's real motive becoming obvious
Monday, Feb. 1, 1999 | 11:56 a.m.
Well, President Clinton has gone out on a limb to propose part of its surplus be invested in the market and what happens? You guessed it -- Republicans had a tizzy fit, because what they really want to do is use the Social Security surplus to (what a surprise) give a tax cut, most of it going to the rich.
Does that mean Republicans no longer want to invest Social Security funds on Wall Street? Hardly so, but what they want to do is take funds that now pay benefits to current retirees and invest them. This, of course, would require huge benefit cuts.
Oh, they won't admit this upfront, but I wouldn't want to risk giving them control of all branches of government (they already control two out of three) on their promise they won't do it and neither would any other low-income senior with half a brain.
Clinton has laid down the gauntlet and has framed the coming campaign as Social Security and senior citizens against tax cuts and fat cats. Republicans, in demanding Clinton go first on Social Security "reform," have once more put themselves in a box, having to defend raiding the surplus for tax cuts to the rich.
As far as I am concerned no Social Security funds should be turned over to the Wall Street scam artists, but Clinton's idea is the least noxious and keeps the system as a guaranteed income retirement plan and away from the scam artists' complete control.
Daniel F. Olivier
archive