Bernie Sanders: billionaires are after your Social Security

[eridani]

http://readersupportednews.org/opinion2/279-82/13374-dont-let-wall-street-billionaires-destroy-social-security

Let's be clear. The deficit and national debt are serious issues, but we must not balance the budget on the backs of the elderly, the children, the sick and the poor. This would not only be immoral, it would be bad economic policy.

While our billionaire friends may not like them, there are much fairer ways to reduce the deficit. At a time when the wealthiest people in this country are doing phenomenally well and their effective tax rate is the lowest in decades, the top 1 percent must begin paying their fair share of taxes. At a time when large corporations are enjoying record-breaking profits, we have got to eliminate the huge corporate loopholes which result in a massive loss of federal revenue. At a time when we have tripled military spending since 1997, we must take a hard look at a bloated and wasteful Defense Department.

To keep Social Security's finances sound in the future I have introduced legislation - identical to a proposal that President Obama advocated in 2008 - to apply the payroll tax on incomes above $250,000 a year. Under current law, only earnings up to $110,100 are taxed. The Center for Economic Policy and Research has estimated that applying the Social Security payroll tax on income above $250,000 would only impact the wealthiest 1.4 percent of wage earners.

While we often take Social Security for granted, we must not forget that Social Security today is providing dignity and security to tens of millions of Americans at very modest administrative cost. It is a program that is working and working well.

[SoCalDem]

1. Of course they are

In the 80's they snatched & grabbed savings (because people saved money in them back then..pre 401-k,,and pensions had started to evaporate)

The 90's were all about "bubbles"..many.many, many investments were sucked into the dot/com vortex


Rapacious medical insurers gobbled up money then too, as people saw their paychecks shrink because of the increases.

The banks created more bubbles in housing & sucked up money

Wall street & banks gambled away with 40 years'-worth of 401'k money & crashed the whole mess just as the gravy train pulled into the station (Boomers would be wanting that moolah soon)

What's left for them to go after? SS

They NEED the guaranteed deductions-money to gamble with.

[xchrom]

2. du rec. Nt

[Hydra]

3. I love how they're sucking all of the money out of the bottom

And then they'll all take off, like they keep threatening to do if we raise their taxes.

Billionaires need US, we don't need them.

Go Galt!! I dare you!

[Initech]

4. We should start calling them what they what they really are: thieves. Incredibly wealthy thieves.

[lonestarnot]

5. K & R!