The Alleged Budget Surplus, Social Security, & Voodoo Economics (英語) ペーパーバック – 2000/9/30
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This book deals with the budget-surplus myth, the Social Security Trust Fund, and economic malpractice (voodoo economics) over the past 20 years. It exposes the deliberate deception of the public by politicians from both parties which has led to the erroneous belief that the government has surplus money which is available for financing a large tax cut or new government programs. The book points out that there is no significant non-Social Security surplus today and that the projected surpluses for the next decade are little more than wishful thinking based on unrealistic economic assumptions.
The author points out that the surplus in the Social Security system is a planned surplus resulting from 1983 legislation that raised both the Social Security tax rate and the tax base for the specific purpose of building up a surplus for the retirement of the baby-boom generation which will require every dollar of the Social Security surplus. The book also includes a detailed history of the economic policies and economic malpractice of the past two decades.
Allen W. Smith, Ph.D. has devoted much of his adult life to battling economic illiteracy, and his new book, DEMYSTIFYING ECONOMICS, released April 15, 2000 is his most powerful weapon yet in his 25-year crusade. ALA BOOKLIST described the book as "....An excellent resource for beginners as well as those seeking to review their understanding of economic principles. Smith's book, UNDERSTANDING INFLATION AND UNEMPLOYMENT, was an alternate selection of Fortune Book Club, and his textbook, UNDERSTANDING ECONOMICS, published by Random House, was used in more than 600 schools in 48 states. After teaching economics for 30 years, Smith retired as Professor of Economics at Eastern Illinois University in 1998 to become a full-time writer. Smith wrote a widely-read syndicated column on the economy from 1990-1993, and for the past six years, he has written a weekly philosophical column, "Contemplating Life," which currently appears in 14 newspapers.
Smith holds a B.S. in education degree from Ball State university and M.A. and Ph.D. degrees in economics from Indiana University.
The book is non-political. It states the naked facts about what has been done to the Social Security Fund over the years. Everything is documented from government sources. It comes complete with charts, figures, dates and years. The book is only 128 pages long. It is the best primer on the problems with the Social Security Fund that I have ever read. You get the whole sad story right here in one very easy to understand volume.
Mr. Smith is a teacher - and that is very evident. He is obviously a good teacher. If you want to know about the Social Security Trust Fund, where it went and who did what, this is the best book you could buy. The author faults Democrats as well as Republicans. He has to ... because both parties have been guilty in the misuse and deception.
Mr. Smith is a teacher, not a politician. The book contains nothing but the facts. It is organized and simple to read.
Mt. Smith is clearly an intelligent man, a dedicated teacher, very knowledge in the discipline of economics and a tax-payer with a sincere commitment to the Social Security System. He has been teaching economics on a college level as his career. He tells it like it is.
If you want a simple, concise, documented primer on the Social Security Trust Fund, this is your book ... buy 2 and give one to an interested friend or another retiree.
Richard Noble - The Hobo Philosopher - Author of:
"America on Strike" American Labor - History
I was especially struck at the fairness and even-handedness of Dr. Smith when dealing with both Democratic and Republican stances on the "surplus". He is very hard on Presidents Johnson and Reagan in creating the national debt that threatens our national economic well-being. He is also critical of both Al Gore and George W. Bush in their proposed uses of the "surplus".
This book is also well written. Dr. Smith has an uncanny way of taking complicated economic principles and rewording them in a straight forward, easy-to-understand format that was refreshing to read.
In summary I enthusiastically give this book the highest rating! It is a book for all open-minded persons how are willing to look beyond the rhetoric of today's politicians and seek the truth .
We now know for fact, looking back in history, that "trickle down economics" does not work and in fact did more harm than good.
Dr. Smith also gives a full discussion about The Social Security Trust Fund and how that money was used to help cover the actual deficit as well as pay for unfunded bills such as tax cuts.
The sad truth about the tax cuts is that they were funded with Social Security Fund money. This money is paid PRIMARILY by the working class because there is a limit or cap on money that's taxed against the wealthy (does that surprise ANYONE?). So basically, working Americans paid the wealthy for the tax cuts with their benefit money. Read Dr. Smith's book and tell all your friends about how we have been taken advantage of in the worst possible way.
Excellent book, I recommend it highly!
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