To the Editor:
I take exception to Niel Ritchie’s commentary last week in the FPS. He claims Social Security will continue to grow until 2023. With fewer people working and more retiring, it doesn’t seem logical. I have been receiving yearly statements from Social Security and they say it will break even in 2013. I haven’t gotten my statement this year yet, but I’m guessing Social Security may break even this year and run a deficity from then on. He says if we don’t let the tax cuts expire in January, the top two percent of the wealthiest taxpayers will deprive the U.S. Treasury of $700 billion. Not true; it would be $36 billion for the rich.
The government just spent $26 billion to shore up the pensions, retirement funds and health care of teachers and a trillion stimulus a year and a half ago. Keeping $36 billion in the private sector: why can’t we do that?
Mr. Ritchie, the economy needs stability, business cannot grow when more money is taken out of the private sector, regardless of which group of wage earners. Massive taxes are coming our way in January to all tax brackets. Niel, a bigger government cannot grow an economy, it can only destroy it.
Just like Gail Walker said last week, “Lies, innuendos and half-truths are not conductive to any democracy.”
Randy J. Miller