America's Largest Newspaper Launches a Nasty Attack on Grandma and Grandpa

AlterNet / By Joshua Holland

America's Largest Newspaper Launches a Nasty Attack on Grandma and Grandpa
The Rupert Murdoch-owned, right-wing Wall Street Journal is lying, plain and simple.

May 12, 2011 |


The conservative playbook isn't difficult to decipher. They rely heavily on the politics of resentment – point to someone in our society, claim they're a lucky-duck using unverifiable anecdotes or cherry-picked data, and then urge people to ask, "Why does that person have it so good when I'm busting my ass to make ends meet?"

It was apparent in Ronald Reagan's “welfare queen” rhetoric, and also in the ubiquitous references to “young bucks” buying T-bone steaks with their food-stamps. Now the Right's using the exact same play for those greedy public employees supposedly living large on their fat salaries.

This week, the Wall Street Journal featured an excellent example of the genre by John Cogan, a fellow at the corporate-backed Hoover Institution. The piece, titled, “The Millionaire Retirees Next Door,” is a shining testament to the dishonesty surrounding our discourse on “entitlements.”

Cogan's pitch is this: “The typical husband and wife who reach age 66 and qualify for Social Security ... will begin collecting a combination of cash and health-care entitlement benefits that will total $1 million over their remaining expected lifetime.” They'll get an average of $1 million in cash and health-care bennies over the rest of their lives, which makes them millionaires! Why aren't you? ...............(more)

The complete piece is at: http://www.alternet.org/economy/150930/america%27s_largest_newspaper_launches_a_nasty_attack_on_grandma_and_grandpa/

It's because of the 30+ of Reagan-Bushes policies that redistributed the wealth and your neighbors have a kick-ass portfolio paying their retirement. And that "retirement egg" is protected from "over-taxing" thanks to the same Administrations.

Thanks for letting me know, Wall St. Journal! Wait until tell the kids!

We live very frugally, struggle to pay our bills on time (so far) and haven't had a vacation in over 12 years. If this is the life of a millionaire it isn't all it's cracked up to be.

A couple receiving ss+medicare for 25 years is receiving 20,000 per year per person. That, in the FUCKING BULLSHIT RAG, is your 'millionaire next door'.

Oh 25 years is too long? Over 20 years this rises the magnificent sum of 25,000. And that isn't cash, it is SS pension plus the value of medical services through medicare, the bulk of medicare costs probably accruing in the last six months of life.

Back in the 1980's when Reagan "fixed" Social Security, my FICA taxes increased dramatically. Prior to Reagan's "fix" I would reach the limit on FICA tax earnings around October or November, actually giving me a month or two of higher take home pay, a chance to catch up, a chance to save a bit more. After the "fix" was in and ever since I paid FICA tax on every dollar I earned and my employers matched every dollar I paid while high earners stop paying on earnings over approximately $106,000 (the current FICA cap, IIRC).

End the FICA income cap on the real millionaires.

my parent is in their 70's cannot retire from working full time and couldn't make a house payment if they stopped and received SS. fucking lying billionaire vipers. People deserve to retire with a decent nice income, so FU wsj.

second of all,

one million if you live another 20 years and go into a home health care situation or have to hire additional help etc...approx 50K...SO?????? for two people...who worked CONTRIBUTING THAT AMOUNT INTO SS THEIR WHOLE WORKING LIVES?? FU all over again..they're suppossed to eat..WE ALL are supposed to eat cat food? Of course..thats cash and ITALICS health care entitlement (fu yet again) benefits..thats not money..so the money's less...much less probably considering the cost of health care, right..that rag is not worthy of my dog's piss.

I wish murdoch that old old man himself would just goooo away already old old old man hows that.

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the have littles against the have nothings for the benefit of the have everythings. It's outright lying and blatant propaganda. Murdoch should be stripped of all assets and deported. The Wall Street crooks and liars he champions don't need his help in stripping the working class, the poor, the disabled and the elderly of any shred of dignity. The time for a peasant uprising in nigh. Stock up on pitch forks and torches.

Except among those of us who frequent these forums.

I've always told other people in my income bracket that start to spew this shit, we shouldnt't be

arguing amongst ourselves and to look @ the bigger picture.Most of them still insist on clinging to the BS.

WTF are they 'protecting'?

Best summary I've seen.

particular right-wing prejudice. Also Moonie Times, Reason Rag, Fox "News". The brainwashing is complete.

Let me be clear, I don't give the American people credit for much (if any) intelligence, but even THEY know that granny and gramps ain't rollin in clover and sure as hell ain't millionaires.

I do hope the Dems find a way to make use of this nonsense and have it bite old Rupe in the ass.

is the latest CON job.

Money that can only be paid to Big Pharma etc. shouldn't be included as income.

then they are "entitled" to draw from it when they reach the age of retirement. What kind of idiot doesn't get that?