How Will The Election Effect The Economy With David Scranton Dick Morris – September 4, 2016
Guest: Dick Morris
Dick Morris: Hillary’s plans will endanger Social Security because she is being pushed to the left by Bernie Sanders people and he’s going to have to expand social Security to a point where is financial stability will be in serious jeopardy. For all the propaganda about social security being in trouble it’s really not. Social Security is in fairly decent shape and we have large numbers of younger people, largely immigrants coming into the country and eventually interest rates will recover and the funds would be alright. But it’s a thinly balance thing, and if we expand Social Security as she’s urging which is to lower the retirement age when we need to be raising it and using Social Security to fill the gap between when you are 30 year career is over and age 65, that late 50’s 60’s period. That’s a population equal in size to those over 65 and if the social security system is burden with that, the only way it can finance itself is by a significant increase in social security taxes. Right now social security taxes do not cause much political havoc because they are only on the first hundred in a quarter of income. But when they take that lid off and raise the rate to accommodate the changes Hillary wants to make it’s going to become an enormous burden and enormous political issue, and so an inter-generational war.
David Scranton: Certainly, wow that’s a mouthful! But now let’s pivot. Let’s talk about how a Trump presidency will be better for the retirees and pre-retirees and members of the income generation that watch our show every week.
Dick Morris: Well I think people do not understand the real Donald Trump. I know him very well, my father was his lawyer and I’ve known him all my life. And Trump is not an ideal log he certainly is not a (inaudible) like the wants to make out. He’s not a biggish, he’s not a racist he’s a builder, he’s a developer. His motto is basically ‘Get it built, get it done, I don’t care if it’s left or right, make it happen.’ He is someone who is accustom to getting stuff built and done and brushing aside the obstacles in his path. LaGuardi once said there is no Democratic or Republican way to clean the streets and I think that is Trump’s motto. In a sense Trump is basically saying just give me the damn bowl and let me get this stuff done.
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