Social Security Tax Quotes
The lead paragraph of the story by staff writer Leon Anderson reported that “Senator Goldwater said here today he favors turning Social Security into a voluntary program.” Ever since the New Deal initiated Social Security, with major Republican opposition, Republicans had been split on whether to support it or try and end it by privatizing the program that is the most liked program of the American population. George W. Bush, tried to make the privatization of Social Security the centerpiece of his legislative program, but the people rose up in protest and it was defeated easily.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
The Congressman was referring to the privatization of Social Security ideas that George W. Bush had put forth.