When President Reagan raised payroll taxes Back in the ‘80’s it was to create a nest egg for Social Security. Now the nest egg is due, but since we skewed the books to cover the banks mistakes and endless wars; bailouts and corrupt payoffs, we talk about dismantling Social Security amid hysterics over baby boomers retiring and getting what‘s owed to them, the pittance that it is. Lost is the fact that millions of these same citizens were drafted to fight in Vietnam. That’s the final insult to our veterans after the way they’ve been treated for the last forty years. There’s plenty of bumper stickers supporting the troops, well, until they retire, then we’re afraid of paying their fair share. If you listen to the bankers and the politicians, now they’re a threat to the financial future of our nation.
Over the decades we’ve been trained to believe that we don’t have to take our obligations to fellow human beings as seriously as we do towards banks. The US government has been bailing out banks since Nixon was president. Once commercial and investment banks were allowed to merge, the banks used taxpayer deposits to make bad bets, and every time we bailed them out with taxpayer money. All administrations said we had to cover these bad bets or it would affect all assets of the economy.
According to the banks, and the politicians who they (own) lobby, these massive bank bad bets aren’t considered a burden on the nation’s debt, only the “boomers” are a burden, the very people who paid into it for ‘security’. and then paid to bail them out. For decades economists told us reducing taxes on the rich and powerful wouldn’t create deficits, it would shrink government, which plainly hasn’t worked, it’s had the opposite effect.
The motto of VEVA (Vietnam Era Veteran’s Association) is: “Never Again Will One Generation of Veterans Abandon Another“. Society should take a lesson from these retiring veterans they so were so willing to first sacrifice, and now blame for the economy.
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