Senate Social Security Debate Begins Today
Sen. Daniel Patrick Moynihan (D-N.Y.) accused the Bush Administration Monday of using scare tactics in an effort to whip up opposition to his proposal to cut the Social Security tax.
But White House spokesman Marlin Fitzwater said Moynihan’s proposal, which the Senate begins debating today when it takes up the 1992 budget, would cause real problems by driving up the federal deficit.
Moynihan has proposed slightly cutting the 6.2% Social Security tax that is deducted from workers’ paychecks. He argues that the money, rather than being set aside for future payments to retirees and the disabled, is being spent to finance government operations.
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