I rise in support of tax cuts but certainly not in support of this irresponsible plan that has been offered by some of my colleagues on the other side. The money the Republicans plan to use to fund their tax bill is not their money, nor is it Democrats' money. For it was paid into the Social Security system through payroll contributions and should not be stolen away from that to fund other things, no matter how worthy they may be. Already young people, many in my generation, doubt whether the trust fund will be there for them. By introducing a tax bill paid for by taking money away from Social Security, they are pitting old against young and sowing conflict between generations. Democrats are interested in bringing people together across generations and social groups to work out a way to achieve long-term solvency for Social Security, for we agree with the Federal Reserve Chairman, Alan Greenspan, that the favored use for the surplus is not to spend it on domestic programs or tax cuts. At a time in which we are facing volatility in our world financial markets, I would hope that the fiscal responsibility that Republicans purport to pervade their party would finally take hold and they would do the right thing. Do not support the Archer tax plan. Support the Rangel substitute.
Editor's note · Context
Addressing concerns about a Republican tax plan and its impact on Social Security.
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