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<P style="MARGIN: 0in 0in 0pt" class=MsoNormal>Dear OMers,</P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal>It seems my post a few days ago
ruffled some feathers.<SPAN style="mso-spacerun: yes"> </SPAN>Lots of
private and public responses back – some simply saying we shouldn’t cut
low-income seniors, but some nasty and personal attacks as well.<SPAN
style="mso-spacerun: yes"> </SPAN>Came home last night…there a burning
cross – with the letters AARP on it - on my lawn.*</P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal> </P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal>And so, this, hoping to share my
thoughts in more detail and smooth some of those feathers…</P>
<P
style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in"
class=MsoNormal><SPAN
style="mso-fareast-font-family: 'Book Antiqua'; mso-bidi-font-family: 'Book Antiqua'"><SPAN
style="mso-list: Ignore">1)<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></SPAN></SPAN>Some seemed to think I was saying cut SS for low-income
people (when the fat cats aren’t paying their fair share); actually I clearly
said:<SPAN style="mso-spacerun: yes"> </SPAN>Put a floor (say $15-20K)
under which no reductions would occur.<SPAN style="mso-spacerun: yes">
</SPAN></P>
<P style="MARGIN: 0in 0in 0pt 0.5in" class=MsoNormal><?xml:namespace prefix = o
ns = "urn:schemas-microsoft-com:office:office" /><o:p> </o:p></P>
<P
style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in"
class=MsoNormal><SPAN
style="mso-fareast-font-family: 'Book Antiqua'; mso-bidi-font-family: 'Book Antiqua'"><SPAN
style="mso-list: Ignore">2)<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></SPAN></SPAN>Can and should seniors (as a demographic component)
contribute to closing the Budget/Deficit problem?<SPAN
style="mso-spacerun: yes"> </SPAN>I say yes.<SPAN
style="mso-spacerun: yes"> </SPAN>What I think many don’t realize is the
incredible magnitude of the deficit.<SPAN style="mso-spacerun: yes">
</SPAN>It IS real. The Fed govt is taking in $2.3 T - spending $3.6 T - a
HUGE 33% !! shortfall. </P>
<P style="MARGIN: 0in 0in 0pt 0.5in" class=MsoNormal>See: <A
href="http://www.usfederalbudget.us/">http://www.usfederalbudget.us/</A> (it
also shows the size of SS and Medicare).<SPAN style="mso-spacerun: yes">
</SPAN><SPAN style="mso-spacerun: yes"> </SPAN>Obviously this cannot
continue....even liberal economists like Krugman say structural changes
absolutely must take place…that no matter <U>how much</U> we raise taxes on the
rich/raise corp. taxes and close loopholes/generate more revenue as we come out
of the recession, we’ll still have a growing, and critical-to-the-country,
deficit problem.<SPAN style="mso-spacerun: yes"> </SPAN>Look at the minor
dents against next year’s $900 B deficit problem we’d get from closing all the
oil co subsidies ($5 B), or raising the top 2% tax rates to even 50% (another
$35<SPAN style="mso-spacerun: yes"> </SPAN>B) – w/Reps screaming about
only a 39.6% rate. </P>
<P style="MARGIN: 0in 0in 0pt 0.5in" class=MsoNormal><o:p> </o:p></P>
<P
style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; tab-stops: list .5in"
class=MsoNormal><SPAN style="FONT-FAMILY: 'Times New Roman'"><SPAN
style="mso-list: Ignore">3)<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></SPAN></SPAN>As a country, we’ve been unfortunately living way, Way
beyond our means for decades (borrowing to pay for it).<SPAN
style="mso-spacerun: yes"> </SPAN>We’ve got major structural financial
problems that exist beyond those easy fixes; cutbacks in our living standard Are
coming. The Bush tax cuts and the Medicare Part D are the underlying
problems that exploded the deficit. When the recession’s over, most
economists concede we’ll need to raise taxes on almost everyone - probably
something close to the Clinton-era rates. That impacts everyone under
65. And so...my belief in fairness and morality, why should seniors get a
free ride and not contribute to fixing our deficit problem. Again, no
reductions for low-income Seniors -- but above, say $20K, ...should we keep our
lifestyle while those under 65 don't? (and as we grow in numbers and
longevity, exacerbating the problem?)<SPAN style="mso-spacerun: yes">
</SPAN><SPAN style="mso-spacerun: yes"> </SPAN>Extreme example:<SPAN
style="mso-spacerun: yes"> </SPAN>why should Romney making $17 million
even get a SS check?<SPAN style="mso-spacerun: yes"> </SPAN><SPAN
style="FONT-FAMILY: 'Times New Roman'"><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal><o:p> </o:p></P>
<P style="MARGIN: 0in 0in 0pt 0.25in" class=MsoNormal>Again, I don’t want any
struggling seniors to lose benefits (I personally would like to see more Federal
funding go to All low-income people…i.e. Headstart).<SPAN
style="mso-spacerun: yes"> </SPAN>But there’s no reason well-off
seniors shouldn’t have minor SS reductions.<SPAN
style="mso-spacerun: yes"> </SPAN>Thus my plea to us all that we avoid
simplistic “No Cuts to SS or Medicare Period” messages to Congress.<SPAN
style="mso-spacerun: yes"> </SPAN></P>
<P style="MARGIN: 0in 0in 0pt 0.25in" class=MsoNormal><o:p> </o:p></P>
<P style="MARGIN: 0in 0in 0pt 0.25in" class=MsoNormal>Off to the 49ers game…and
a Happy Holidays to All!</P>
<P style="MARGIN: 0in 0in 0pt 0.25in" class=MsoNormal>Rick Childs<SPAN
style="FONT-FAMILY: 'Times New Roman'"><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 0pt" class=MsoNormal><o:p> </o:p></P>
<P style="MARGIN: 0in 0in 0pt 0.25in" class=MsoNormal>*
kidding…</P></FONT></DIV></BODY></HTML>