James Galbraith on Social Security ‘reform’
11.8.2012 1 Comment
Big Money has been gunning for Social Security, Medicare and Medicaid for decades — since the beginning of Social Security in 1935. The motives are partly financial: As one scholar once put it to me, the payroll tax is the “Mississippi of cash flows.” Anything that diverts part of it into private funds and insurance premiums is a meal ticket for the elite of the predator state.
And the campaign is also partly political. The fact is, Social Security, Medicare and Medicaid are the main way ordinary Americans connect to their federal government, except in wars and disasters. They have made a vast change in family life, unburdening the young of their parents and ensuring that every working person contributes whether they have parents, dependents, survivors or disabled of their own to look after. These programs do this work seamlessly, for next to nothing; their managers earn civil service salaries and the checks arrive on time. For the private competition, this is intolerable; the model is a threat to free markets and must be destroyed.
The main target of the austerity mongerers? Social solidarity or community.
And that is what the Objectivists in Congress cannot stand. Our sense of community is an obstacle to their power. And what they are determined to destroy, we must defend. There is much more to be said, about disaster relief, food assistance, housing and other threatened programs. But to begin, Congress should leave Social Security, Medicare and Medicaid alone.