|Art by Xavier Viramontes.|
Teamster General President Jim Hoffa said yesterday:
Social Security does not contribute to the budget deficit and should remain off the table in these year-end budget negotiations.Best to express your outrage by calling your elected representatives -- including President Obama. Call the White House comment line at 202-456-1111. Or send an emmail to email@example.com. Or comment on this website: http://ow.ly/gbW76.
The Campaign for America's Future proposes cuts that would be more ethical and more effective than lowering Social Security benefits by adopting the so-called chained Consumer Price Index ("chained CPI"). Here are six of them:
- Close loopholes in the capital gains tax. $174.2 billion.
- Let the Bush tax cuts expire for income above $250,000. $183 billion.
- Allow the government to negotiate drug prices with pharmaceutical companies. $220 billion.
- Create additional tax brackets for very high earners. $872.5 billion.
- Eliminate corporate tax loopholes: $1.24 trillion.
- Create a financial transactions tax for high-volume Wall Street trading: $1.8 trillion.