HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Bernie Sanders Proposes S...

Fri Feb 17, 2017, 05:49 PM

Bernie Sanders Proposes Social Security tax hike for wealthy

Source: International Business Times



17 FEB 2017 AT 16:30 ET

With Republicans controlling both chambers of Congress, Vermont Sen. Bernie Sanders proposed Thursday a perhaps futile attempt to make wealthier Americans pay more into Social Security in order to keep the decades-old program solvent, according to media reports.

The former Democratic presidential candidate, along with Rep. Peter DeFazio (D-Ore.), explained the plan that would increase benefits for senior citizens by raising taxes on Americans who earn more than $250,000, The Hill reported.

"Anyone who tells you Social Security is going broke is lying,” Sanders said. “We can increase Social Security benefits for millions of Americans and extend the life of Social Security if we have the political will to tell the wealthiest Americans to pay the same rate as everyone else.”

American workers were contributing 6.2 percent of their annual income to Social Security, but that’s capped at the first $127,000. Sanders' plan also called for income like capital gains and dividends to be taxed in order to keep the program solvent until 2078.

Read more: http://www.rawstory.com/2017/02/bernie-sanders-proposes-social-security-tax-hike-for-wealthy/

21 replies, 3831 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 21 replies Author Time Post
Reply Bernie Sanders Proposes Social Security tax hike for wealthy (Original post)
DonViejo Feb 2017 OP
cstanleytech Feb 2017 #1
BainsBane Feb 2017 #6
cstanleytech Feb 2017 #9
Bernardo de La Paz Feb 2017 #11
cstanleytech Feb 2017 #15
Judi Lynn Feb 2017 #2
tenorly Feb 2017 #21
murielm99 Feb 2017 #3
JudyM Feb 2017 #4
Cryptoad Feb 2017 #5
Kashkakat v.2.0 Feb 2017 #17
Cryptoad Feb 2017 #18
Kashkakat v.2.0 Feb 2017 #19
Glamrock Feb 2017 #7
George II Feb 2017 #8
YOHABLO Feb 2017 #10
Doreen Feb 2017 #12
Kashkakat v.2.0 Feb 2017 #13
Kashkakat v.2.0 Feb 2017 #14
tenorly Feb 2017 #16
Kashkakat v.2.0 Feb 2017 #20

Response to DonViejo (Original post)

Fri Feb 17, 2017, 05:54 PM

1. Probably wont happen with the Repugnants in charge however down the road once the Dems eventually

win back the majority then ya it should be done also they should look at raising the draconian cap for earnings for those on disability so they can actually afford to take a part time job and maybe have a decent life because right now they are penalized brutally imo if they try to get a job and if they earn to much they lose the social security check which means they then lose their medical as well.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #1)

Fri Feb 17, 2017, 06:23 PM

6. Probably?

Of course it won't.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BainsBane (Reply #6)

Fri Feb 17, 2017, 06:31 PM

9. Other than death nothing is 100% certain. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #1)

Fri Feb 17, 2017, 07:44 PM

11. Ryan / McCONnell plan to lower corporate taxes and hike consumer taxes.

It's not a tRump rally on Wall Street, it's a Republicon rally.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Bernardo de La Paz (Reply #11)

Fri Feb 17, 2017, 08:32 PM

15. Yes I am aware of that but they will not be able to hold power forever, eventually the pendulum

will swing the other way and the Democrats will regain it hopefully sooner rather than later but still it will happen in time.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 05:55 PM

2. This idea is going to win, in the end. Thank you, Mr. Sanders. n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Judi Lynn (Reply #2)

Sat Feb 18, 2017, 06:49 PM

21. Your words to God's ear Judi.

We need to scrap the cap - and apply FICA taxes to investment income as well.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 05:57 PM

3. Actually, raising the cap was part of

Hillary Clinton's platform.

Thank you Hillary, for trying.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 05:59 PM

4. Woot! Go Bernie, make them go on record as keeping this special treatment for the wealthy.

He's been covering a lot of ground, that guy.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 06:03 PM

5. Talk abt a regressive tax,,,,,,,, SS tax (FICA) is da gold standard!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Cryptoad (Reply #5)

Sat Feb 18, 2017, 10:13 AM

17. technically its insurance - as in federal INSURANCE CONTRIBUTIONS ACT

Read up on the reasons why it was set up that way.. as opposed to a tax or something coming out of the general revenue pot.... and then get back to us.

All the arguments/reasoning used back then are just as valid now.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Kashkakat v.2.0 (Reply #17)

Sat Feb 18, 2017, 02:06 PM

18. When u figure out why they call it a FICA "tax",,,,

and why it is always listed as revenue in the General Fund,,,,,get back with us...... But technically in the GOP spin world , u are correct.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Cryptoad (Reply #18)

Sat Feb 18, 2017, 05:55 PM

19. Say what?

OK fine, call it a tax - it is in the generic sense of the word, though by design it was/is intended to something more akin to an insurance premium.

I think you may be confused by the phrase "gen revenue"? It doesnt refer to the entire pot of $$$$ going into federal coffers..........it means tax or other revenue that is collected by govt for general purposes, as opposed to a trust fund or entitlement which is paid into for specific purposes - eg workers comp, Meidcare, FICA, etc.

BTW, "entitlement" is not the bad work repubs make it out to be. It means simply that since you paid into it you are "entitled" to the benefits. As opposed to welfare programs, which must be allocated out of the general funds and is at the mercy of the political whims of the day.

Hate to break it to you but if youre saying SS is, or should be a welfare program coming out of gen funds - THAT is the right winger POV.

Now, to further confuse the issue there has been in recent years smaller amts of $$$ transfered from gen funds into SS trust fund (eg interest on loans taken out of SS funds) but thats a conversation for another day.

The point is - SS needs to be strengthened, not whittled away or defunded by diverting some $$$ to Wall Street or weakened or made into a welfare program.

All I can say is I wish I lived in the alt universe where AL GORE was president and the FICA funds all went into the lock box.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 06:26 PM

7. Rock on Berns!



This is my reply to anyone claiming we need a flat tax. Let's start with Social Security.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 06:30 PM

8. Has he actually introduced the appropriate legislation?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 07:16 PM

10. Oh hell yes. But this statement doesn't make sense

 

"American workers were contributing 6.2 percent of their annual income to Social Security, but that’s capped at the first $127,000."

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 08:00 PM

12. It is a nice thought but more than likely it is

going completely away if this administration has its way.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Doreen (Reply #12)

Fri Feb 17, 2017, 08:03 PM

13. WHAT S with this passivity?????????????? Cripes get up from the computer , PICK UP A PHONE &

CALL YOUR SENATOR/CONGRESS PEOPLE - every day, local nos & DC numbers.
pLEASE!!!!!!!!

(YES SHOUTING!)

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 08:06 PM

14. Heres the thing - lets get out IN FRONT OF THE coming attacks on SS & medicare, waiting around

to let them shape the message (ie we have to destroy it in order to save it) is too late.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Fri Feb 17, 2017, 08:36 PM

16. Scrap the cap.

Nothing else will do. And besides, why should someone with a $50,000 income pay the same as someone with a $1 million income - or worse yet, someone with a $100 million dividend income, who pays nothing at all.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Sat Feb 18, 2017, 05:58 PM

20. History /background info on SS

If yall have not read this its actually an interesting read. A lot of the arguments then about how to set it up are just as valid today. Quick, before Paul Ryan notices it's there and takes it down!

https://www.ssa.gov/history/briefhistory3.html

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread