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In reply to the discussion: Obama destroyed Chained CPI and I don't understand why we're not celebrating [View all]magellan
(13,257 posts)36. Not a budget negotiation, but how about an Aug 2011 town hall meeting?
http://www.dailykos.com/story/2011/08/18/1008266/-Obama-pushes-chained-CPI-in-town-hall-meeting
Q Can we look forward to you telling the Republicans that it's time that the wealthy pay their fair share? (Applause.)
THE PRESIDENT: Well, firstthis is a very well-informed young man here. (Laughter.) You're exactly right that the way the Social Security system works, there's what's calledthere's basically a cap on your Social Security, which there isn't, by the way, on Medicare. But Social Security, it only goes up to the first $107,000; and you're right, somebody who makeswho has net assets of $250 million and are making maybe $5 million a year just on interest or capital gains or something, just a fraction of it's going to Social Security. I think there's a way for us to make adjustments on the Social Security tax that would be fairer than the system that we use right now.
I do think, in terms of how we calculate inflation, that's important as well.
THE PRESIDENT: Well, firstthis is a very well-informed young man here. (Laughter.) You're exactly right that the way the Social Security system works, there's what's calledthere's basically a cap on your Social Security, which there isn't, by the way, on Medicare. But Social Security, it only goes up to the first $107,000; and you're right, somebody who makeswho has net assets of $250 million and are making maybe $5 million a year just on interest or capital gains or something, just a fraction of it's going to Social Security. I think there's a way for us to make adjustments on the Social Security tax that would be fairer than the system that we use right now.
I do think, in terms of how we calculate inflation, that's important as well.
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Obama destroyed Chained CPI and I don't understand why we're not celebrating [View all]
TekGryphon
Apr 2013
OP
If that's the case, why not put tax cuts for the wealthy, raise the retirement age to 70
neverforget
Apr 2013
#1
America still hasn't figured out the utter idiocy of supply-side economics...
TekGryphon
Apr 2013
#3
Thanks for the OP, I felt it was like the Sequester. They wanted him to keep taxes down.
freshwest
Apr 2013
#5
Agree with you 100%, just didn't have time to go into details. Welcome to DU!
freshwest
Apr 2013
#11
His budget for FY 2014 is $900 million less than this year. It also replaces all of the
neverforget
Apr 2013
#94
You might mean "some" Americans, as I'd guess all or most on this and other progressive boards have.
whathehell
Apr 2013
#102
You're right! This will work as well as offering RomneyCare to Republicans!
MannyGoldstein
Apr 2013
#2
What would Obama put on the table that would in effect have Reps backing off?
Sheepshank
Apr 2013
#88
Yes, when the Republicans slipped the individual mandate into Obama care in 1989.
cthulu2016
Apr 2013
#38
It's really a shame you had that post hidden and can no longer post in this thread
Number23
Apr 2013
#62
"Every government is run by liars and nothing they say should be believed." ~I.F. Stone n/t
DeSwiss
Apr 2013
#20
Holding Obama's feet to the fire is exactly what everyone was supposed to do.
Sheepshank
Apr 2013
#90
If that's the case, then publicizing the case against chained CPI *helps,* not hurts, his plan.
HiPointDem
Apr 2013
#43
so what? if you're correct, small potatoes in light of the greater service & it will all come out
HiPointDem
Apr 2013
#55
No, *WE* are destroying Chained CPI. Obama just looks like a dumbass on this.
reformist2
Apr 2013
#81
Making cuts to Social Security the national Democratic Party agenda is something to celebrate?
Douglas Carpenter
Apr 2013
#101