Sen. Mitt Romney suggests he'd back cutting retirement benefits for younger Americans

[NHvet]

Source: Business Insider

Sen. Mitt Romney of Utah suggested that he'd favor cutting retirement benefits for younger Americans in a bid to stabilize safety net programs.

"If we're ever going to get a handle on our debt, we're gonna have to find a way to either increase revenue, which I don't favor, or find a way to adjust our long-term benefits not for current retirees," he said at a Senate Budget Committee hearing on Wednesday, seemingly ruling out any tax hikes

Read more: https://www.businessinsider.com/mitt-romney-retirement-benefits-for-younger-americans-2022-3

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I guess Fraudster Rick Scott has someone else in his corner to willingly help decimate the two working safety nets for senior Americans. But I guess we already knew this about 47% Mitt.

[Autumn]

1. I support cutting his retirement to zero. He's done nothing to deserve one. Fuck Romney.

[Rebl2]

6. AGREED!

[NCjack]

20. It is time to eliminate the wealth categories of Billionaire$ and above. Place taxes on them

and within a few years, reduce them to Millionaire$.

[brush]

59. Romney, at times called the sensible republican...

makes litte sense here.

Talk about failing to read the room.

[Autumn]

65. Sensible republicans and decent republican are two things that do not exist. They are unicorns.

Anyone looking for any of those are on a fools errand.

[Sherman A1]

60. +1000

[Maine Abu El Banat]

2. What businessman

Says he doesn't want to increase revenue?

[Marthe48]

24. Rich businessmen who get their cut regaerdless?

I don't think romney is a businessman. I think he spots vulnerable businesses he can take apart for his own gain, and damn everyone who put time, effort or money into the business on his chopping block.

[Rebl2]

3. Says the

guy who is a multi millionaire

[Historic NY]

4. Cuttting the Trillion dollar tax cut and raising the cap on Social Security are ways to keep it on t

track. Telling a younger person they have to contribute but won't get much in the end, isn't an incentive to work on the table.

[cstanleytech]

25. Another thing that might help people is increasing corporate taxes to 60%.

However corporations can lower their taxes if they meet certain criteria.
#1 Corporate headquarters located inside the US = 5% lower taxes.
#2 Linking their taxes to the number of employees they have worldwide to the number of employees they have inside the US. The larger the workforce and the larger the % that are here inside the US they get get a lower tax rate with the lowest being 40%.
#3 If they reach the 40% that then kicks in potential access to the last tax break which is linked to the number of employees they have here inside the US as well as the number of them that earn more than 300% over the federal poverty level which is to be set by the General Accounting Office every year with zero ability under law for the House or President to interfere with.
If say a corporation with 6000 people worldwide has 80% of them here inside the US the corporation can get a progressively lower tax rate with the lowest being 0% but they would have to pay all of those 80% more than 300% over the federal poverty level.

[paleotn]

40. +1000

[notinkansas]

64. Exactly. Problem solved!

[inthewind21]

68. Don't raise the cap

Eliminate it altogether.

[Javaman]

5. ...

[NCjack]

22. Look at his face -- he now has deduced that Trump is stomping him.

[yaesu]

7. rummy needs to back the rich paying their share of SS but like all fascists he likes to rob the poor

to give to the rich

[Midnight Writer]

8. I thought the supply-side tax cuts were going to increase revenues through economic growth.

Whatever happened to that fairy tale?

[yonder]

26. Good question and thread winner.

[paleotn]

41. Oh, now that's a Laffer....

The most aptly named economic hypothesis in history. I like to call it the ass curve because that's were Laffer pulled it out of...his ass.

[NHvet]

9. This the only thing that I have in common with those trumpers carrying signs saying

"KEEP YOUR HANDS OFF MY SS AND MEDICARE!! I PAID FOR THEM AND EARNED THEM!!"

[DENVERPOPS]

10. Reminds me of a workers strike

at Safeway a decade ago..............

The negotiations with these striking workers including that they would leave the existing workers wages the same, but it required the existing workers to agree that all future hires could be at a much lower rate of pay..........

AND THE EXISTING WORKERS SIGNED THAT LOWER RATE OF PAY CONTRACT FOR ALL NEW HIRES....................

[MarcA]

18. Divide and Conquer. n/t

[DENVERPOPS]

49. More Like:

Got mine, screw you...........

Of course the only reason the guys at the higher rate, got that higher rate, was because the workers before him refused to sell out him and the other new hires.......

And then, of course, there are the companies where workers don't have to join the union, but get to enjoy the wages and fringe that the Union workers fought for and won.......Is that fucked, or what.........

[inthewind21]

69. Way

To many who are willing to do that. Some appear on this very site on a regular basis.

[Solly Mack]

11. Of course he does.

[Diamond_Dog]

12. I suppose next he will say

“ask your parents for it”

Doesn’t everyone have a trust fund set up for their future by Mummy and Father?

Yeesh this guy is clueless about life in the real world!

[blue sky at night]

13. The only thing these idiots are good at:

Making young people hate them even more than yesterday...

[MarcA]

14. Part of end goal of Oligarchs owning everything and everyone.

Keep the masses uneducated, poor, in debt and for the women, pregnant.
Of course, the Oligarchs are the truly useless eaters and breathers.
Support a democratic state and government and organize with your friends
and families.

[twodogsbarking]

19. If they can work and be poor they will be used to it when they retire.

Thanks Mitt.

[RainCaster]

15. That should make Mitt very popular with the post-boomers

GOTV people- these people need to be retired.

[twodogsbarking]

16. Translation. I want money for being stupid too.

I've been practicing hard and I am as stupid as I can get, maybe.

[The Jungle 1]

17. FU Mitt you dick.

Raise taxes on the rich.

[turbinetree]

21. Yep what do you call a "guy" sitting in the position of power BAIN CAPITAL....

the same jerk that sent jobs overseas so the middle class would not have any money coming in and then blaming them for whining while he was swimming at his 5 level home in California .....but he can sit in that Washington office and take taxpayers checks from the people that he wants to fuck over......they usually call that a psychopath.......

[TheRealNorth]

23. Why wait. Mittens?

Let's cut now. What, you don't want to lose the support of the Baby Boomers and Gen X'rs that will soon to be retiring?

Well then, fuck you. We have known for 20 years this was coming. You didn't want to increase SSI revenues by either taxing a higher percentage or increasing the income cap that SSI is taxed. So instead, you and the fucking Republicans want to screw young people even more.

[TheRealNorth]

27. One more thought....

Have they recalculated social security to take into account the number of elderly that Covid took out?

[turbinetree]

36. And what really classic is that they run around being "compassionate conservatives "

and that BS moniker.....

[keithbvadu2]

28. 'I got mine. Screw you.'

'I got mine. Screw you.'

[TheRealNorth]

29. That should be the GOP motto.

[mahina]

30. OR, Remove the cap so that high income people pay fica like the rest of us.

At least lift the cap if not remove it completely. That would take a huge step towards solving the problems and it wouldn’t further alienate young people

[Coventina]

31. Coventina suggests oiling up a few guillotines.

DUer Coventina of Arizona suggested that she'd favor preparing some guillotines for possible service.

"The Billionaires of this country have been shown time and again that they are not paying their fair share into this country. We're gonna have to find a way to encourage these parasites to do the right thing, and asking nicely doesn't seem to be working. I'm wondering why it's only called 'class warfare' when the poor fight back?" she said upon reading the latest attempt from the Billionaire Romney to point the finger of blame at hardworking, actual tax-paying citizens.

[darosky]

32. 47%

Some things never change.

[Efilroft Sul]

33. "Keep my retirement benefits' name out of your fucking mouth!"

Raise the cap, you greasy-haired dolt.

[oldsoftie]

34. Remove the SS cap. Minimum corp rate. Minimum rate for super rich. VAT tax.

And CUT SPENDING.

[LiberalFighter]

35. Social Security comes from Social Security taxes not from regular taxes.

He needs to keep his scummy hands off our Social Security.

[IronLionZion]

37. First the GOP kills older Americans during COVID

telling them to sacrifice themselves for their grandkids or whatever for the economy. Now they screw the grandkids.

The pro-life party might have fewer voters this election year and they want to lose young people. Super idea

[GB_RN]

38. Social Security Doesn't Add One Goddamned Dime...

To the debt. SS is funded through a completely separate tax mechanism, as is Medicare. RMoney is lying through his teeth! Fuck him and the horse he rode in on.🤬

[UGADawg]

39. As Unions have declined retirement benefits have gone away and...............

401k's are "fake retirements"

I told my brother in law that he should get no comfort from his 401K. It is only "gravy".

The threat of a union got me a defined benefit pension plan. THE THREAT!

Romney is a thief!

[catrose]

42. No.

[Curtis]

43. Cut our now $813 billion in "defense" spending

Cut it in half easily and we still spend way more than any other nation. This couple with taxing the wealthy as they should be taxed would erase the deficit over night and begin on paying down our debt. There is no reason to go after the middle and lower classes

[area51]

50. +1 n/t

[OrangeJoe]

67. Absolutely

Although thanks to Putin the DOD is set for another decade of increased budgets.

[TexasBushwhacker]

44. The issue is income inequality

When CEOs and other executives weren't making THOUSANDS of times the average worker, Social Security worked fine as long as 90% of wages were taxed. Because of the shrinking middle class and more and more $$$ going to people making over $400K, only about 84 % of wages are subject to SS taxes, and it's getting worse.

Personally, I like the donut hole idea that some have proposed. Make first cap $150K, then leave an untaxed window up to $500K. Then the wages over $500K would be subject to Social Security taxes. That untaxed window could be adjusted as needed, to hit the magic 90% mark. Hell, they might even be able to raise benefits more than the ridiculous COLAs they have now. SS would be solvent in perpetuity.

What idiots, including Romney, forget is that Social Security payments go straight back into the economy. Lowering payments HURTS the economy overall, and that's bad for everyone!

[LudwigPastorius]

45. "adjust our long-term benefits"

Like the way Elizabeth had Mary Queen of Scots' height "adjusted"?

Even a once-in-a-blue-moon-right Republican is still a d-bag Republican.

[Yo_Mama_Been_Loggin]

46. Why don't we stuff Mitt in a dog crate instead?

And strap him to the roof of a moving vehicle.

[Journeyman]

47. How does he define "younger Americans." Last time this floated, younger was 55 years old . . .

and below. How tragic would that be? That people ten years from collecting SS be told their share in it will be reduced since they have "time to make alternate investments to make up for the loss"?

[DavidDvorkin]

48. I'd like to think this would get the young voters out

And voting the straight Democratic ticket. I like to dream.

[Hotler]

51. Selfishness, one of the cornerstones of the repug (fascist) party. nt

[McKim]

53. No thanks, Mitt!

No thanks, Mitt, our young people have already been screwed over economically enough!!! Expensive college, unemployment, cheap wages, high debt for college and then the pandemic!!!!!

[Martin68]

54. Good luck with that Mitt. Many of them can read, and many of them vote.

[Grins]

55. This is so GOP...

“…we're gonna have to find a way to…increase revenue, which I don't favor…”

Of course you don’t. You’d rather borrow and let the people too young to vote for you get hammered.

We DON’T have a tax problem. We have a revenue problem.
Republicans have made taxes, progressive taxes, a dirty word.

[lastlib]

56. Of course you would, Mittens....

Your financial future is secure, and you don't give a flying f*ck about anyone lower on the economic ladder. And you sure as h*** don't want anybody cutting into your pie to help someone else whose future isn't so secure. GFY, Mittens. With a pitchfork.

[jfz9580m]

58. ...

[2naSalit]

61. Tell you what, Senator 47%...

It wouldn't even be a concept if you and your ilk actually fucking paid YOUR fair share of taxes.

Social programs are what taxes are for, idiot.

Fuck you, pay some fucking taxes.

[Emile]

62. We need to start drug testing Republicans!

[machoneman]

63. Yes, I had read that a $500,000 SS cap would fund SS for 20+ more years. Then, if the cap was...

...unlimited (ergo, in the millions) SS would NEVER run out of money.

Heck, even a Forbes economist says lets do it.

https://www.forbes.com/sites/teresaghilarducci/2021/12/31/raise-the-social-security-capnow-the-rich-pay-through-new-year-days-brunch/?sh=6d139427ea95

[Moebym]

66. Well, if those young people on Twitter don't get their student loans forgiven

They've threatened to stop paying into SS to get back at the "boomers" who've ruined their lives.

Well, if they want to get back at the "boomers", all they have to do is either not vote at all or vote for the GOP. Once in power, the GOP will lay waste to SS...and damn near everything else we've accomplished.

But hey, they got back at the boomers.

[inthewind21]

70. What exactly

Did boomers accomplish? I know what their parents, "the greatest generation" did but not finding much on accomplishments other than reaping the benefits bestowed by their parents and then destroying the same for their children.

[IbogaProject]

71. Strict Means-Testing

For all retired Senator Retirement benefits.

[OverBurn]

72. Let's pass a "free to kick puppys" and "push down old lady's down" Bill also.