General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsInstead of complaining about chained CPI, why not recommend to your reps a solvency option for SS
http://www.ssa.gov/OACT/solvency/provisions/payrolltax.htmlProvisions Affecting Payroll Tax Rates
Present law Social Security and Medicare tax rates
These provisions modify the current-law OASDI payroll tax rate of 12.4 percent (6.2 percent each for employees and employers). We provide a summary list of all options in this category. For each provision listed below, we provide an estimate of the financial effect on the OASDI program over the long-range period (the next 75 years) and for the 75th year. In addition, we provide graphs and detailed single year tables. We base all estimates on the intermediate assumptions described in the 2012 Trustees Report.
Choose the type of estimates (summary or detailed) from the list of provisions.
We group these provisions as follows:
E1: Increase payroll tax rate, with no changes in the taxable maximum.
E2: Tax all earnings above the current-law taxable maximum.
E3: Tax a portion of earnings above the current-law taxable maximum.
Bluenorthwest
(45,319 posts)Merkley Statement on Social Security Cuts
December 18, 2012
Washington, DC- Oregon's Senator Jeff Merkley issued the following statement after reports that a new index for Social Security called "chained CPI" could be included in a fiscal cliff deal.
We had an election, and the voters sent a message to Congress to focus on jobs and fairness -- not cutting benefits for people who have worked all their lives and are now making ends meet on fixed incomes. The formula we use to adjust cost-of-living changes for seniors needs to reflect the real costs they face, not the budgetary fantasies of Washington.
http://www.merkley.senate.gov/newsroom/press/release/?id=072a3d3c-6586-4fdf-b037-fa3432a760f5
Obama ran on lifting the cap on contributions, he's the only person I voted for that has forgotten that.
Glitterati
(3,182 posts)Because progressives have been told to sit down and shut up.
We're sitting down and shutting up now. Thankyouverymuch.
Skink
(10,122 posts)supplement labors contribution to the program.
Fumesucker
(45,851 posts)And that's not the demographic that needs SS in their old age.