VAT and Socially Insecure Until 91?


Obama is creating a “bi-partisan” team to collectively raise taxes and reduce benefits in order to pay for this new age of government expansion. Heading the team is long-time democrat and republican operatives Erskine Bowles and Alan Simpson, respectively.

And since the bloodsuckers are in such dire straights nothing can escape the welfare-warfare statists:

Bowles and Simpson also said they would consider recommending a consumption or value-added tax as a way of stemming federal debt.

“I’m just game for anything” and “we going to have to slay sacred cows,” said Simpson.

“A value-added tax — I’ve looked at lots of them — ought to be something that’s on the table,” said Bowles.

Not only is a VAT on the menu, but:

They said the panel would consider changes to the Social Security retirement system, including possibly raising the age when beneficiaries can begin receiving benefits.

“The thing was set up when the life expectancy was 57 — that’s why they set the retirement at 65,” said Simpson. “Now the average life span is 80, 83 — it can’t work.”

“If we’re going to get to the Promised Land, everything had got to be on the table or there won’t be money for Social Security,” Bowles said. “This debt is like a cancer.”

Following that logic would mean raising the eligibility age for Social Security to 88 or perhaps even 91.

Simpson seems to understand the perilous situation the government  is in as he echoes George H.W. Bush when he said: “If the people knew what we have done, they would hang us from the nearest lamp post.”

Now, Simpson seeks to save his own skin while still serving the state:

“We don’t dare put out a report before Election Day or it’ll be total cremation and we’ll have to move to the top of Mount Somewhere — Erskine and I — somewhere living up there like hermits.”

So let it be.


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