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dition, it is estimated an additional 400,000 beneficiaries would be pushed below the poverty line.
These and other benefit-reducing ideas are being raised at the same time the White House wants to cut capital gains taxes.
Why is Social Security being singled out in the name of deficit reduction? One reason is because Social Security trust funds are counted as general revenues, just like income taxes. They are being used to pay not only Social Security benefits, but for programs that should come from general revenues, like stealth bombers. And this process will continue until Social Security funds are removed from the budget process, as Sen. Daniel Patrick Moynihan, DN.Y., and others on Capitol Hill are seeking to do.
Let me make one point perfectly clear. America’s seniors aren’t seeking special treatment in this fiscal mess. They want to be part of the solution, not part of the problem.
But many of them barely are getting by. One-fourth of Social Security beneficiaries 65 and older
95.3%