Friday, May 13, 2011

Entitlements must be cut as part of the deal to raise the debt ceiling

I had an argument with someone about entitlements today. Their argument is that they paid in so they should get the money. So let's be clear. Let's agree to only pay them back what they paid in. So fine you paid in. You deserve Your share, so let's just reduce the entitlements to the amount that people paid in. And for the poorest people which this was designed for, we continue the promise to those who are retiring now, but reset the plan for those who haven't started paying in yet. Read as the unborn. To pay for it is simple. Raise the ceiling for where we stop collecting this tax, but keep the current ceiling on employer matching. Yes it adds burden to the rich and really two income middle class families, but it balances it, and it let's business keep creating jobs.

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