Friday, June 10, 2005

A white flag for privatization?

Privatization is looking dead, and Republicans are being forced to face a dilemma: give up altogether on one of preznit's main second term agenda items or vote to cut Social Security benefits in an election year.

WASHINGTON, June 9 - Meeting in private for the 11th time this year on Social Security, Republican senators on the Finance Committee struggled on Thursday over ways to make the retirement system solvent, and the committee chairman said afterward that he hoped to forge a consensus among senators in his party next week on topics like raising the retirement age and cutting benefits.

The chairman, Senator Charles E. Grassley, Republican of Iowa, said he wanted to wrap up work on the issue of solvency before turning to a harder matter - President Bush's proposal to allow workers to divert part of their Social Security taxes into individual investment accounts.

After the meeting, the second-ranking Republican on the committee, Orrin G. Hatch of Utah, said the Senate was unlikely to approve legislation that included investment accounts financed by Social Security taxes.

"I don't think we're going to get it," Mr. Hatch said. "We can't get even one Democrat, and some Republicans won't go along either."

Tom DeLay twists his imaginary moustache, mutters "foiled, foiled again," then says something incomprehensible.

Replying to a reporter's question about whether he was confident a Social Security measure would reach the House floor in this session, Mr. DeLay accused Democrats of obstruction and said, "This is not an issue that you can answer that kind of question." Later, he said, "This is a day by day, one day at a time process that's very difficult, but we're committed to get done."

Tom DeLay's world: "issues" "answered" by "questions."

Democrats should stay tough on this one and not get into a negotiation over cutting benefits -- something that would be unnecessary if the cap on wage taxes was raised or, better yet, eliminated altogether. That's perceived as a "tax hike" by Republicans since it's vital to them to ensure that the wealthiest pay as little as possible to support the social safety net. As a result, Republicans ensure that the vanishing middle class shoulders a greater share of the tax burden, making them resent taxes even more -- the GOP's ultimate goal.

0 Comments:

Post a Comment

<< Home

Weblog Commenting by HaloScan.com Site Meter