Letter: Sen. Begich’s Social Security plan merely a transfer of funds

Sen. Mark Begich seems to have taken over leading the attack against the rich. He is not satisfied increasing the top marginal tax rate by the 2 percent that President Barack Obama wants. Through his Social Security bill Begich wants to add, between employees and employers, 12.4 percent more on wages above the current limit. His stated objective is to save the future of Social Security, but in reality this is yet another transfer payment.

While he claims that for the high income earners “every additional dollar earns them higher benefits” the real objective seems to be to be that it “pays out proportionately larger benefits to low- and middle- income retirees.”

It seems that Sen. Begich and his ilk have rephrased that famous quote as “Ask not what your country can do for you, but what the rich can do for your country.”

— Mark Smith

Anchorage