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https://www.dailykos.com/stories/2023/3/1/2155678/-Why-is-this-Democrat-helping-bail-out-Republicans-on-Social-SecurityWhy is this Democrat helping bail out Republicans on Social Security?
Joan McCarter
Daily Kos Staff
Wednesday March 01, 2023 · 3:38 PM EST
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Some days, it really feels like some Democrats just cant stand winning. Case in point: Sen. Tim Kaine (D-VA) who cheerfully volunteered his participation in a Republican scheme to cut Social Security, the same one Sen. Angus King (I-VT) has been touting, the one hes working on with Sen. Bill Cassidy (R-LA).
This comes one day after President Joe Biden was actually in Virginia playing offense on keeping the safety net intact. Hes been effectively pounding Republicans on Social Security and Medicare and on their hypocritical deficit peacockery for weeks. Hes got them in a hole, and they cant stop digging.
So why in the world would any Democrat work against him and, just as importantly, the working people of this country?
It also comes at the same time as this:
Link to tweet
As of Feb. 28, anyone making more than $1 million had paid all of their Social Security taxes for the year, because the payroll tax cap is set at $160,200. After someone earns that, everything else they earn for the whole year is exempted from payroll taxes. The rest of working Americans94% of uskeep paying that 6.2% payroll tax the rest of the year. Because that is helping our retired loved ones live with at least of modicum of security and comfort.
Do we need to look any further for ensuring the future of Social Security than making millionaires and billionaires actually pay their share? Why would we look any further than that?
And why would we risk a system that has worked for 87 years for the idea that Kaine says hes so excited about: risking at least some of our Social Security financing in a sovereign wealth fund. That amounts to a backdoor privatization scheme, another way for the banksters to get their paws on our old-age funds. If the risk doesnt work, then the bright idea is to either raise payroll taxes or cut benefits. Thats adding a layer of risk and complexity that is absolutely uncalled for.
Notably, the Cassidy-King proposal requires the immediate borrowing of $1.5 trillion, which, if enacted, would make it harder to keep Social Security out of the deficit hawks cross hairs, she continued. She also points out that this is a distraction from the real and massive benefit cuts that the senators are also kicking around.
Rather than simply releasing the entire package, the wealth fund idea was shared with progressive economists to give the media the impression that progressives might support the package, Altman said. When all the details are out, they wont. Indeed, this should be an absolute non-starter now for everyone who cares about protecting current and future Social Security beneficiaries."
What really doesnt have to be messed with is the retirement age, which is up for discussion as well with this creweventually going up to 70. There are an awful lot of people employed in jobs in this country that require physical work and long periods of standing, from most of the trades to the service industry, things that get increasingly more difficult as bodies age. Plenty of people simply cant work in their profession that long. Plenty cant work to the current retirement age of nearly 67. In fact, about half of people retire early, at 62.
Raising the retirement age is a benefit cut, for people who retire early and for everyone else.
Its just a bad, harmful, and completely unnecessary idea that should dont get any consideration from Democrats, period. Particularly right now when encouraging Republicans on possible cuts to these programs means making it that much harder to hold the line on the debt ceiling fight.
Response to babylonsister (Original post)
Chin music This message was self-deleted by its author.
dlk
(11,600 posts)Who will hire a 70-year old, or even a 65-year old? Seriously, how many companies actually retain a significant number of workers in that age category? This is a non-starter, if there ever was one.
Response to dlk (Reply #2)
Chin music This message was self-deleted by its author.
dlk
(11,600 posts)What kind of a barbaric country requires 70-year olds to work? Americans shouldnt have to work until they drop. Greed isnt good. Id like to think were better than that.
Response to dlk (Reply #9)
Chin music This message was self-deleted by its author.
JohnSJ
(92,508 posts)The obvious solution. The easiest solution.
The IGNORED solution!
JohnSJ
(92,508 posts)gab13by13
(21,494 posts)I may be called out for shitting all over a Democrat. I politely disagree with Senator Kaine's position.
spanone
(135,929 posts)bluedigger
(17,090 posts)If they can't fact check the first two sentences, I have no confidence in the rest of the article. King represents Maine.
lapucelle
(18,402 posts)Senator Kaine is not "cheerfully participating in a Republican scheme to raise the retirement age". He's part of a bipartisan discussion group.
The "article" is Fox news level distortion.