The wealthy get Billions Stop blaming Social Security for deficits!
1 so far! Help us get to 5 signers!
I’m reaching out because I’m concerned about our country’s growing national debt and would like to understand your views on what’s contributing to it, especially regarding Social Security.
Some say Social Security adds a lot to the national debt. However, the Center on Budget and Policy Priorities points out that Social Security mainly funds itself through payroll taxes and doesn’t really add to the federal deficit. Do you agree with this perspective?
I’m also worried about how recent policies have affected our debt. Reports show that during President Trump’s time in office, the national debt went up by about $7.8 trillion. A big part of this increase is linked to tax cuts and more government spending. For example, the Tax Cuts and Jobs Act of 2017 is expected to add between $1 to $2 trillion to the federal debt over ten years.
On top of that, tax breaks and subsidies for corporations seem to be impacting our financial situation. Federal subsidies to U.S. businesses cost taxpayers nearly $100 billion each year. Cutting these subsidies could help with tax reforms or reducing the deficit.
Given this information, I’d like to know your thoughts on:
1. Do you think Social Security is a main cause of the national debt?
2. How do you justify possible cuts to programs that help everyday people when significant tax cuts and subsidies for big corporations and the wealthy have increased the national debt without providing matching economic benefits?
Thank you for taking the time to read my letter. I look forward to hearing your response.