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In reply to the discussion: FFS... the PURPOSE of ENTITLEMENT REFORM is to REDUCE benefits [View all]ProSense
(116,464 posts)6. Here's what
"Anybody who thinks Social Security checks, for instance, are too large should have the character to say so, rather than pretending that if you look at the thing in just the right light it is revealed to be God's will that things be handled a certain way that, by golly, just happens to reduce benefits. "
...needs to happen:
Sanders, Reid, DeFazio Introduce Legislation to Strengthen Social Security
WASHINGTON, March 7 Sen. Bernie Sanders (I-Vt.) today introduced legislation cosponsored by Senate Majority Leader Harry Reid (D-Nev.) to strengthen Social Security by making the wealthiest Americans pay the same payroll tax that nearly everyone else already pays.
Rep. Peter DeFazio (D-Ore.) introduced the companion bill in the House. He joined Sanders at a news conference in the Capitol to discuss their bill to bolster Social Security without raising the retirement age or lowering benefits.
Social Security is the most successful government program in our nation's history. Through good times and bad, Social Security has paid out every benefit owed to every eligible American, Sanders said. The most effective way to strengthen Social Security for the future is to eliminate the cap on the payroll tax on income above $250,000 so millionaires and billionaires pay the same share as everyone else.
Reid said, I want to thank Sen. Sanders for his outstanding leadership in support of Social Security and the millions of Americans who rely on the program. His legislation should make people think twice before assuming that the only way to strengthen Social Security is to take away benefits that seniors have earned, or raise taxes on the middle class.
DeFazio added, Despite the hype, Social Security is not now, and never was, the cause of our deficit. Those spreading these false claims are the same people who have for years been working with Wall Street to privatize the program. We shouldnt cut benefits or try to balance the budget on the backs of seniors who have earned these benefits. We can just close a tax loophole that allows millionaires and billionaires to pay a lower percentage of their income into Social Security than everyone else.
In addition to Majority Leader Reid, the Senate measure is cosponsored by Sens. Patrick Leahy (D-Vt.), Barbara Boxer (D-Calif.), Amy Klobuchar (D-Minn.), Sheldon Whitehouse (D.-R.I.), Al Franken (D-Minn.) and Richard Blumenthal (D-Conn.).
Under their legislation, those with yearly incomes of $250,000 or more would pay the same 6.2 percent payroll tax already assessed on those who earn up to $113,700 a year. Applying the Social Security payroll tax on income above $250,000 would only affect the wealthiest 1.3 percent of Americans, according to the Center for Economic and Policy Research. Social Security officials say that simple change would yield about $85 billion a year to keep the retirement program strong for at least another 50 years.
The legislation is based on a proposal that President Barack Obama made in 2008 during his first campaign for the White House. (Watch the video.)
Since it was signed into law 77 years ago, Social Security has kept millions of senior citizens, widows, widowers, orphans, and the disabled out of poverty. Before Social Security, about half of senior citizens lived in poverty. Today, less than 10 percent live in poverty and more than 55 million Americans receive retirement or disability benefits.
The most successful government program in our nation's history has not contributed to the federal deficit. It has a $2.7 trillion surplus, and it can pay out every benefit owed to every eligible American for at least the next 20 years, according to the Social Security Administration.
http://www.sanders.senate.gov/newsroom/news/?id=3d71f1ec-9ff5-4443-9e1f-efc735f1bb38
WASHINGTON, March 7 Sen. Bernie Sanders (I-Vt.) today introduced legislation cosponsored by Senate Majority Leader Harry Reid (D-Nev.) to strengthen Social Security by making the wealthiest Americans pay the same payroll tax that nearly everyone else already pays.
Rep. Peter DeFazio (D-Ore.) introduced the companion bill in the House. He joined Sanders at a news conference in the Capitol to discuss their bill to bolster Social Security without raising the retirement age or lowering benefits.
Social Security is the most successful government program in our nation's history. Through good times and bad, Social Security has paid out every benefit owed to every eligible American, Sanders said. The most effective way to strengthen Social Security for the future is to eliminate the cap on the payroll tax on income above $250,000 so millionaires and billionaires pay the same share as everyone else.
Reid said, I want to thank Sen. Sanders for his outstanding leadership in support of Social Security and the millions of Americans who rely on the program. His legislation should make people think twice before assuming that the only way to strengthen Social Security is to take away benefits that seniors have earned, or raise taxes on the middle class.
DeFazio added, Despite the hype, Social Security is not now, and never was, the cause of our deficit. Those spreading these false claims are the same people who have for years been working with Wall Street to privatize the program. We shouldnt cut benefits or try to balance the budget on the backs of seniors who have earned these benefits. We can just close a tax loophole that allows millionaires and billionaires to pay a lower percentage of their income into Social Security than everyone else.
In addition to Majority Leader Reid, the Senate measure is cosponsored by Sens. Patrick Leahy (D-Vt.), Barbara Boxer (D-Calif.), Amy Klobuchar (D-Minn.), Sheldon Whitehouse (D.-R.I.), Al Franken (D-Minn.) and Richard Blumenthal (D-Conn.).
Under their legislation, those with yearly incomes of $250,000 or more would pay the same 6.2 percent payroll tax already assessed on those who earn up to $113,700 a year. Applying the Social Security payroll tax on income above $250,000 would only affect the wealthiest 1.3 percent of Americans, according to the Center for Economic and Policy Research. Social Security officials say that simple change would yield about $85 billion a year to keep the retirement program strong for at least another 50 years.
The legislation is based on a proposal that President Barack Obama made in 2008 during his first campaign for the White House. (Watch the video.)
Since it was signed into law 77 years ago, Social Security has kept millions of senior citizens, widows, widowers, orphans, and the disabled out of poverty. Before Social Security, about half of senior citizens lived in poverty. Today, less than 10 percent live in poverty and more than 55 million Americans receive retirement or disability benefits.
The most successful government program in our nation's history has not contributed to the federal deficit. It has a $2.7 trillion surplus, and it can pay out every benefit owed to every eligible American for at least the next 20 years, according to the Social Security Administration.
http://www.sanders.senate.gov/newsroom/news/?id=3d71f1ec-9ff5-4443-9e1f-efc735f1bb38
Bill: http://www.sanders.senate.gov/imo/media/doc/030612-SSBill.pdf
Fact sheet: http://www.sanders.senate.gov/imo/media/doc/030613-SSFactSheet.pdf
My only problem with this bill is the gap between $113,700 and $250,000.
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And it's a solely Republican endeavor, not a Democratic Party one. Let's make that clear.
BlueCaliDem
Oct 2013
#1
Excellent expose, JD. Perhaps we should all send a copy of this to our Senators and Congressmen.
BlueCaliDem
Oct 2013
#116
Don't forget! Just a few years ago, Obama thought that Social Security was in such good shape
JDPriestly
Oct 2013
#118
Perception is king. Republicans have successfully marketed the word, "entitlement", as
BlueCaliDem
Oct 2013
#44
The purpose of making the word entitlement pejorative was also to distort the numbers. When you
okaawhatever
Oct 2013
#59
There is zero reason for Democrats to wade in the Republican cesspool of cutting benefits
BlueCaliDem
Oct 2013
#40
But one that not very many Californians know about. And we've got to change that
BlueCaliDem
Oct 2013
#117
Are you saying that these people are not Democrats? (I agree by the way, but Washington doesn't)
Dragonfli
Oct 2013
#69
Unfortunately, no, it's not solely a Republican endeavor. It's in Obama's budget.
cui bono
Oct 2013
#77
I distinctly remember that Obama favored raising the cap in the 2004 debates with Hillary.
JDPriestly
Oct 2013
#102
Conservative Democrats always appear more 'progressive' when campaigning.
NorthCarolina
Oct 2013
#113
You earned it, you're entitled to it. Take it up with those who wrote the Social Security Act. n/t
duffyduff
Oct 2013
#52
"More progressive" = means testing. Means testing and cutting benefits weakens the program.
Enthusiast
Oct 2013
#70
Social Security and Medicare are politically stronger because they benefit everyone.
Jim Lane
Oct 2013
#93
SNAP, Food Stamps, are tied to the farm bill. Would you be for cutting food stamps
Zorra
Oct 2013
#56
Really? When did that happen? I was under the impression that House Republicans were trying
Zorra
Oct 2013
#62
It's like when they claim "waste fraud and abuse" but never on no-bid contracts.
Spitfire of ATJ
Oct 2013
#19
Here's a thought. How about a benefit just for being a citizen of the richest country in the world?
Spitfire of ATJ
Oct 2013
#45
Rather reminds me of Welfare "reform" <- AKA screwing the poorest of the poor. ~nt~
99th_Monkey
Oct 2013
#39
Exactly - why aren't they proposing to use the CPI-E (the inflation index for elderly people)?
Make7
Oct 2013
#41
Fortunately the things elderly people buy are transported by horse drawn buggies.
Make7
Oct 2013
#53
They would PREFER to eliminate Social Security and stick em in an old folks home run by a church,...
Spitfire of ATJ
Oct 2013
#58
Look, we are "entitled" to these benefits for the simple and obvious reason that we "earned" them.
RVN VET
Oct 2013
#42
Peter J. Peterson owns the White House and Congress. He's a crook, pure and simple.
duffyduff
Oct 2013
#54
The phrase, "There's a sucker born every minute" caught on for a reason.
Egalitarian Thug
Oct 2013
#68
If I could accept the good faith of the people arguing about entitlement reform...
lumberjack_jeff
Oct 2013
#67
K&R. Meanwhile, Apple pays virtually no taxes, and it is just one of a number of corporations
JDPriestly
Oct 2013
#88
That's where the reform needs to happen. I'll bet most Americans aren't aware of the corporations
Dark n Stormy Knight
Oct 2013
#103
There aren't enough "richest" to make even a tiny dent in the system total payouts
eridani
Oct 2013
#105