The Looting of Social Security: How the Government Is Draining Americas Retirement Account

by Smith, Allen W.

• ISBN13: 9780786712816
• ISBN10: 0786712813
• Format: Paperback
• Copyright: 2003-12-09
• Publisher: Perseus Books Group

Summary

Every cent generated by the 1983 Social Security tax increasemoney ostensibly earmarked and saved for the retirement of the baby-boom generationis gone, spent by our government. But most Americans are ignorant of the crime. The emptying of the Social Security Trust Fund is the greatest fraud ever perpetrated on the American public, and acclaimed author and economist Allen W. Smith reveals how George W. Bush and Congress are pulling it off. While George W. Bush has repeatedly condemned "corporate wrongdoers," he is guilty of fiscal mismanagement and outright deception that makes Enron and WorldCom pale in comparison. Smith explains the history of Social Security from its inception in 1935 to the present, including the enactment of the 1983 Social Security tax increase. Then, step by appalling step, he details how the government's promise to the American peoplea pledge to never spend the Social Security fundswas broken by every succeeding administration. Sadly, The Looting of Social Security quite simply reveals how George W. Bush has stolen more than $3 trillion of Social Security money to fund tax cuts for wealthy Americans while robbing many of their hard earned money and their rights.

Table of Contents

List of Tables
Social Security Chronology
An Overview	p. 1
The Social Security Trust Fund	p. 29
Economic Illiteracy and Malpractice	p. 47
Economic Malpractice During the Reagan-Bush Years	p. 71
Clinton and a Return to Traditional Economic Policies	p. 93
George W. Bush	p. 113
Tax Cuts and Job Creation	p. 133
The Hidden Agenda	p. 143
Wealth, Privilege, and Power	p. 157
The Impending Crises	p. 167
Pathway to Economic Disaster	p. 187
Bush's Contract with America	p. 199
Epilogue: The Case for Universal Economic Education	p. 209
A Special Tribute to Senator Daniel Patrick Moynihan	p. 225
Acknowledgments	p. 227
Index	p. 229
Table of Contents provided by Blackwell. All Rights Reserved.