Bernie Sanders
Related: About this forumHow does one make suggestions to Bernie's campaign?
I have looked at his campaign website and have not found a place to make a suggestion for the campaign. If any of you know, feel free to pass on my suggestion. Otherwise, if you know how to get through...I'd appreciate knowing.
For the moment, I have a couple of modest suggestions:
When Bernie talks about raising or lifting the cap on social security, hI don't hear him provide the actual amounts on what that difference would mean. How much more would a person who earns $250,000 be paying? How about a millionaire? A billionaire? I am nowhere near being affected by that proposal, but if I were, the phrase 'lifting the cap', in the absence of the numbers, brings to mind a gushing oil well. If others do, they might be more receptive if they knew how little a difference it would likely make in their taxes.
All politicians develop a stump speech, which has obvious advantages for the speaker. Since we hope his campaign will start a political revolution, it seems there could be advantages in developing multiple variations in each message so they continue to sound fresh. It would certainly be another way of distinguishing himself from the "same old, same old".
Go, Bernie!
Xipe Totec
(43,890 posts)Wilms
(26,795 posts)Something around $110,000. Above that, no more SS paid in. Lifting that cap will effect those making above that amount.
SamKnause
(13,108 posts)he would lift the cap on those who make $250,000 and up.
I am not sure if that amount is set in stone, but it is
the only amount I have ever heard him mention.
It is currently at $110,000.
RichVRichV
(885 posts)Employee pays 6.2% and employer pays 6.2% (total 12.4%) for all money earned up to $118,500.
That means an employee pays $3100 on $50,000 worth of income for SS (or 6.2% of their income). They pay $7347 on $118,500 of their income (or 6.2%). If they make $1M they pay $7347 on SS (or 0.7347% of their income). If they make $1B they pay $7347 on SS (or 0.0007347% of their income).
So people making $118,500 and less are getting taxed much higher percentage for SS than the rich and ultra-rich are. A single $1B taxed at the flat 12.4% (6.2% employee, 6.2% employer) would bring in $124M dollars for the program, or the equivalent of 20,000 people making $50k each.