Who Likes Phase-Out? Not the Affluent…

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Wow, a new poll reveals that 48 percent of all “business owners” and 49 percent of all “affluent consumers” don’t think Social Security phase-out is a good idea. Maybe they realize that financial collapse because of trillions of dollars of new debt really isn’t such a good thing after all.

Speaking of which, the Center on Budget and Policy Priorities has a new analysis of the radical Sununu-Ryan plan for privatization, now being touted by House conservatives who have given up any pretense that “reforming” Social Security is all about fiscal sanity and averting future actuarial imbalances.

The thing to see here is that the Sununu-Ryan plan would require transfers from the general budget of $79 trillion over the next 75 years. In other words, all you need to do is wave a magic wand and pour in trillions of dollars, and you can create a really cool social program! Well, no kidding. Look, if you think Social Security is currently on an “unsustainable course” all because we may need to raise either income or payroll taxes slightly over the next 75 years to continue paying out the full benefits promised by the program, that’s one thing. But please note, if the ground rules dictate that we’re allowed to transfer $79 trillion over the next 75 years from the general budget to Social Security, then we can pretty much solve any of our current problems three times over. How long before the press realizes that all this carping about “insolvency” by Republicans is really just a red herring?

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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