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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsProgressives Push Back Against Obama's Social Security, Medicare Austerity
http://www.commondreams.org/view/2013/04/06-0***SNIP
Additionally, the president is reported to be prepared to propose some means testing for Medicare.
This is not Paul Ryan privatization. But it is a classic austerity cut.
It is wrong economically, and politically.
Social Security is not driving the deficit; therefore it should not be part of reforms aimed at cutting the deficit. The chained CPI, deceptively portrayed as a reasonable cost of living adjustment, is a cut to Social Security that would hurt seniors, says former Secretary of Labor Robert Reich. There are several sensible reforms to Social Security that should be considered to help make it sustainable, including lifting the ceiling on income subject to Social Security from $113,700 to $200,000 or more, as well as instituting a 1 percent raise in the payroll tax rate, a rate that hasn't changed in over 20 years.
Vinnie From Indy
(10,820 posts)not the 1% rate hike.
BeyondGeography
(39,284 posts)Last edited Sat Apr 6, 2013, 11:27 AM - Edit history (1)
It is the one of the most regressive taxes there is; a flat 1% increase would warehouse money that people need right now. Agree with the rest, but Reich needs a much better reason than "it hasn't been raised in 20 years." Neither have most incomes, in real terms, as the Professor surely knows.
xtraxritical
(3,576 posts)JDPriestly
(57,936 posts)per year subject to the Social Security tax, you might be able to lower the rate a bit.
gordianot
(15,226 posts)1. You can use a baseball bat since reasoning with them is not an option. Generally not acceptable.
2. You can appeal to their greed which defines them. Problem is like most terrorist they are difficult to deal with, appeasement only encourages them.
AnnieK401
(541 posts)I like the baseball bat idea.
xtraxritical
(3,576 posts)nineteen50
(1,187 posts)corporate subsidies and tax policies.
SHRED
(28,136 posts)AnnieK401
(541 posts)He is the only one who seems to be behind this. I know he's somehow thinking this will make the R's look bad. Granted he is a master strategist. Much better than any of us could hope to be. But I'm thinking he might have overplayed his hand here. We'll see.
UCmeNdc
(9,589 posts)Push Back as hard as you can!
pangaia
(24,324 posts)"Progressives Push Back Against Obama's Social Security, Medicare Austerity"
Progressive? Why does that have to be called 'progressive?" That's just common sense, normal human beings taking care of each other.
Maybe the headline should read something like.. "FASCISTS CALLED ON THEIR GREED BY CITIZENS"
Sort of like in Iceland, and Cyprus (to an extent)
bl968
(360 posts)The social security income caps should be removed they violate the equal protection clause of the Constitution. If people making under $113,700 are required to pay into social security, then people making over $113,700 a year cannot be excluded.
JDPriestly
(57,936 posts)99Forever
(14,524 posts)No need to raise the rate on those that can afford it least.
ALL income should be subject to this tax, INCLUDING capital gains. ALL income.
SomeGuyInEagan
(1,515 posts)And ALL income - including capital gains - should be taxed as income, with a progressive income tax at the same rates as they were pre-Reagan.
Combine that with fixing the games played with CEO and Wall Street bonuses and suddenly a lot of problems are solved.
sylvi
(813 posts)Stop trying to fuck the little guy.
Conium
(119 posts)If President Obama caves to RepUGLYcan demands, we wasted our time putting him in office. If they want to "fix" Social Security, remove the cap on maximum contributions.
madville
(7,397 posts)They will probably raise the maximum benefit as well. Like instead of the maximum monthly benefit being $2,500 now it would have to go up to say $4,000 to match the income cap going to $200,000 a year.
They will have to give the higher income earners something in return and it will affect the paychecks of all the Congress members as well so you know they would make it have some benefit to them.
Raising the cap would probably be a wash if maximum payouts increased as well, that's te only way I see it happening in the near future.
The wealthy already have their perks. With congress constantly dipping into the Social Security trust fund and using the money as if it was general revenue, the poor pay a far greater percentage of their income. It amounts to a very regressive tax. Cut the caps now!
madville
(7,397 posts)That's just the only way raising the cap will get through Congress. They aren't going to vote a $4,000 SS tax hike on themselves without getting something for it like an increased benefit when they collect.
duffyduff
(3,251 posts)who destroyed the American economy. Seize those crooks' assets.
Reverse ALL the trade agreements from the past thirty years.
Problem solved.
jsr
(7,712 posts)Where's austerity for the 1%?
bvar22
(39,909 posts)That guy would have been a Great President.
unapatriciated
(5,390 posts)Seems to prove politicians bow to the top 6% once they win their election.
They care only when our vote is needed, once in office they realize they no longer care or want to listen to we the people.