I am happy to hear that our government’s debt commission is finally trying to be fiscally responsible and rein in our national debt by reducing our payments from Social Security and Medicare. After all, no one guaranteed these people that they would actually collect from the taxes that they paid for 40 or 50 years. They were also told that this government pittance would not be enough to support them through their elderly years and they would need to supplement this pension. As such, they should all have some savings in the bank. Maybe we can tax this money, too.
Wednesday, December 1, 2010
Life, Death, And Taxes
My St. John's friend and the founding treasurer of St. John's School, Bruce Hughes, shown here with Lisa at son Scott's June wedding, wrote to the Orange County Register about one of the recommendations of the bipartisan debt commission: