Americans are living under a misconception. 88% think that Social Security is in big trouble. Because of this big trouble it needs radical change. What kind of radical change? What else but privatization. Who would benefit from that action? Of course Goldman Sachs and other financials. But you gotta do what you gotta do.
There's just one problem. In fact Social Security is not in big trouble. It's actually in really good shape. Or at least it was in 2005.
But that was before Obama's Social Security tax holiday. This may change things. Obama's tax cut of course cuts taxes for the wealthiest Americans by radically reducing the estate tax. It increases taxes on the poorest Americans. And it jeopardizes the pension program relied upon by millions of poor people. The tax cut holiday is like the temporary Bush tax cuts. Unlikely to be restored to their former level. As a side note, though the majority of Americans supported the Obama tax cut deal overall they opposed the Social Security tax holiday by a margin of 57 to 39.
Obama is turning a program that is wrongly feared to be in trouble into a program that might end up in trouble. Conservative think tanks and some media are conditioning the young to not expect a Social Security check when they retire. Both of these things serve the interests of certain powerful corporate elite. That's where real power resides.