Social Security Reform: First, Kill All the RINOs
A bipartisan group of Senators is meeting to formulate cuts in Social Security to “save” it.
What a chance to go RINO hunting!
Senators Mitt Romney (R-Utah) and Bill Cassady (R-La) are the leaders of the group and should be special Republican targets when they come up for re-election (Romney ’24, Cassidy ’26).
They are touching the “third rail” of American politics and will pay the price when they run again.
Among the proposals they are considering is to raise the retirement age to seventy.
But the idea that people can retire at seventy is an illusion based on the past. Now, 30% of workers aged 65-69 are still working, as are 17% of those 70-74. These folks would not welcome losing their Social Security benefits.
The RINO proposal also calls for investing Social Security trust funds in the stock market, as opposed to Treasury bills where they are now invested.
What a curious time to be talking about putting Americans’ life savings into the stock market, when the Dow dropped 9% in ’22 and the S&P 500 lost 20% of its value that year. And, in February, ’23, the Dow dropped another 5 percent!
The RINOs defend monkeying with trust fund investments saying that it is running out of money.
But the stock market is no place to make up the losses and, even if the fund goes to zero, Social Security will continue, directly subsidized by federal tax revenue.
Social Security will be around long after these RINOs are enjoying their retirements.
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