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Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (597)	8/5/1998 4:20:00 PM
From: Les H	Read Replies (2) \| Respond to of 13994

The Democratic Congress was also voting benefit increases of 10-20% in the 60's and 70's until they finally indexed the benefit payout by inflation. The Social Security benefit payout grew much faster than the tax and was threatened by insolvency by 1980. The elderly started a tax revolt when the the government was considering a bill to make them pay additional medicare taxes or premiums according to ability to pay in the early 90's. They aren't even willing to help out their own peers and they expect the working people to shoulder them. One of the side effects of the Social Security law that penalized benefits for elderly who worked was that now much less of them work and pay the FICA/OASDI taxes than before 1990. The government seems more interested in perpetuating poverty and creating dependent underclasses who will vote for them.

To: Lizzie Tudor who wrote (597)	8/5/1998 4:21:00 PM
From: Zoltan!	Read Replies (1) \| Respond to of 13994

Thank you FDR: Most Detailed Academic Analysis Ever Reveals Massive 'Hidden Tax' Imposed by The System NEW YORK, April 15 /PRNewswire/ -- As Americans today file their 1997 income taxes, a groundbreaking study conducted by leading academic experts and commissioned by Merrill Lynch reveals that the U.S. Social Security system levies a lifetime ''hidden tax'' of more than $500,000 on middle-class American workers born since the mid-1950s.... biz.yahoo.com Link no longer works, but you can get the analysis from ML.