True, some would benefit. But as it points out near the top of the article, retired people would be screwed. And thanks to Bill Clinton, we’re already paying taxes twice on our Social Security.
Anyone over retirement age who voted for this would have to be out of his mind!
Where is the government going to get the money to keep paying retired people in perpetuity when the economy is collapsing?
I’m not sure people understand how lousy the fundamentals are in the economy. Much of the economic activity is artificial in a sense because it has been created by borrowed government money and before that by borrowed mortgage money.
We have to radically sweep away the tax constraints, regulatory restraints and high government spending in order to again create the conditions for economic activity in this country.
Otherwise, there will not be the money to honor the obligations to retired people anyway.