Cut Social Security!

The conclusion always is: cut benefits and raise the retirement age. That's how Economists think, apparently. A self-described Economist, said, the way Economists do, that public employees were overpaid (i.e. paid "above the average" for private sector workers) and paid more "generous," hear 'over-generous', pensions. Those "golden years lifestyles" are going to have to change.

And yet, private pensions have become scarcer and scarcer, and remember what happened to retirees' IRA's and 501K's with the stock market crash? This is not progress. The retirement plans of public employees ought to be seen as a model to head for not to dismantle. Are we a humane society, or not? We should find ways to pay for those pensions, and for private pensions as well.

Furthermore, to say public employees earn more is to compare apples to oranges, and the economist knows it: government workers do not work in factories, or in the fields; very few are manual laborers, or work with heavy machinery; and most are more educated than the average.

But still, there is the assumption that benefits must be cut, not that taxes on the rich should be raised.

Why the rich? They have more money than they can spend, and tend to spend more of it abroad, or to speculate with it, thereby fueling asset bubbles. No, their money is not creating jobs. In fact, at the moment, capital is in the business of shedding jobs: when jobs are cut, corporate profits go up. Higher tax rates for the wealthy would create jobs, because they could fund government programs.

Many progressive economists point out something most Americans don't want to hear: Americans pay lower taxes than other developed nations, and the wealthy pay much lower taxes than they do in almost any developed country. Tax havens (i.e. places with even lower taxes) happen to be in poor countries, i.e. in countries with even fewer public services, but with private services westerners buy at low cost--for them, but not for most natives.

It is astounding how little play a mildly progressive politics has in the US. In "liberal" NY State, the highly popular Andrew Cuomo, a Democrat, concedes economic policy to conservative positions: cut public sector pay; cut pensions and establish a property tax cap, similar to the one in California. California's tax cap defunded their world-class education system built up even under Reagan. California's experience with the tax cap has been not just an education disaster, but a financial one, too, as their huge deficit demonstrates.

But few dare to propose a "millionaire tax," though the wealthy pay lower tax rates than everyone else; few propose rebating the stock transaction fee: both could yield enough for NY to pay its budget.

We have entered an era, when only the wealthy are allowed to win--the interests of ordinary people are dismissed as "special interests." That kind of society led to Rome's impoverishment and its eventual "fall" in 476. It's happening here.