Economic Plan

As you did in your editorial, I welcomed Bill Clinton’s proposed economic plan, including a jobs program among other things. At least, as you point out, it starts the debate. However, I disagree both with your statement that “soaking” the rich would not be a huge source of new money and your suggestion to cut Social Security. It is not true that more equitable taxation would not raise large amounts of revenue. The fact is that since President Reagan and a compliant Congress drastically cut the tax rates on the wealthy, the federal government has lost an average of $88 billion a year!

As for cutting Social Security, millions of the elderly are not living high off the hog. According to the latest figures available to me, 3.6 million Americans over the age of 65 years were living below the poverty level of $6,268 for the elderly in 1990. Their average yearly income was $4,727. Social Security made up 90% of the income of 6.1 million older people and 80% of the income of a quarter of a million. The average monthly income of the 33 million seniors was $1,228--hardly a bountiful income. Hands off Social Security. Let the wealthy pay their fair share.

SOL LONDE, Northridge