Robert Samuelson’s economic record is one of being seldom correct but always in agreement with Wall Street and those who brought us this current economic mess.
His most recent column (7-5) is a great example of how he presents his arguments out of context to “prove” his point.
He scolds the “liberal-reactionaries” for wanting to raise taxes on the rich. He whines, “The richest 10 percent already pay 55 percent of federal taxes” (of course he has not included Social Security or Medicare taxes) without mentioning the richest 1 percent of Americans have 50 percent of the wealth and more money than one-half of all Americans combined!
Next he flat out states, “Democrats won’t admit the need for major benefit cuts in Social Security and Medicare.”
Not true! Rather minor adjustments to the way taxes are collected and from who will easily “fix” the system. But again Samuelson’s buddies are the one who would take the hit.
Samuelson has made a career as a promoter and apologist for the current system of unfair taxation and greed driven economics. We don’t need him on the pages of The News Tribune.