Social Security is not a factor in country’s debt

Daniel Olivier, Bullhead City, Ariz.

Saturday, April 23, 2011 | 2:03 a.m.

The Las Vegas Sun’s Wednesday editorial, “Debt and political gridlock,” hit the nail on the head, except the part about the Standard & Poor’s report. I consider the S&P report unimportant as S&P is interested solely in defending its clients on Wall Street.

However, it is a fact that we do have a tremendous debt run up mostly by tax cuts — mostly for the rich — and not by spending on programs for the old and poor.

If the polls are correct — and they are usually pretty close to correct — that is exactly what the American people think, as the Sun brought out in its editorial.

Most people tend to believe that Social Security and a good part of Medicare are paid for by general tax revenue, not by payroll tax revenue targeted for only those programs. The fact that a lot of payroll tax revenue is borrowed by the government means it is a true debt to Social Security.

Remember, this revenue was used to avoid tax increases in the first place, therefore I am sorry to say (tongue in cheek) that the taxpayers should be on the hook for part of the deficit. And being as Republicans and others are so enthralled with “means testing,” it is incumbent upon the wealthy, who received most of these tax cuts, to bear the burden!

Contrary to all of the GOP bilge and Tea Party ignorance, Social Security is not causing the debt, is perfectly solvent and will be as long as there is a payroll tax.