Obama would raise Soc Sec Income Cap--Rejects cutting benefits or boosting retirement age

[antigop]

http://www.dispatch.com/live/content/local_news/stories/2008/02/25/obama.html?sid=101

Sen. Barack Obama said today he would not cut retirement benefits or raise the retirement age to protect Social Security but would increase the $97,500 income cap for paying payroll taxes into the system.

Obama outlined his plans for “retirement security” today at a roundtable discussion with five residents concerned about the financial security — some got emotional — at the Cincinnati Museum Center at historic Union Terminal.

[democrattotheend]

1. That's the solution most progressives advocate

And I think it makes sense. I am not for removing the cap completely, since there is a cap on how much gets paid out, but I do believe that raising it is a better solution than raising the retirement age or cutting benefits.

[demosincebirth]

10. I've been saying that for years. Thats the only way to do it. Take the cap off completely.

[pinto]

2. I would like to see this a key plank out of our Convention, regardless of nominee!

Raise the taxation cap on Social Security investments. Cut 'n dried. It's an outdated cap, essentially regressive, especially when Social Security is available for all income levels.

:kick:

[Johnny__Motown]

3. I hope you wanted this to be a Pro 'Bama thread, if not it backfired. Most of us support this

[grantcart]

5. I know its hard to tell sometime. It is really embarassing when you can't

tell if it is a parody or not too lol.

[antigop]

12. I wanted to show the difference between Obama's and HRC's positions

Last I heard, HRC wants a "bipartisan commission".

Full disclosure: I'm anti-HRC, but that doesn't make me pro-Obama.

[ebdarcy]

4. And that would be the correct choice. nt

[EndElectoral]

6. Excellent idea. The cap should have been raised long ago. Frankly, that cap should be even higher

[demosincebirth]

11. The cap should be removed.

[madrchsod]

7. good idea

the more the merrier

[TexasObserver]

8. Obama's solution is the most equitable.

Having people pay for 40 years, then upping the qualifying age is simply criminal.

Cutting benefits is a Republican wet dream.

[David Zephyr]

9. He needed to make this point crystal clear. He's done it perfectly.

:thumbsup:

[mckeown1128]

13. He left out the donut that he has advocated....

Leaving the cap for people say from 100,000 -200,000 than raising it for those earning more than 200,000. That way a family with 4 kids doesn't earning 100,100 dollars doesn't have an increased burden... He normally mentions it as a way to raise the cap while not hurting large higher end families.

[MissMillie]

14. it's about time someone agreed to do it

most regressive tax there is.

Double the cap!

[backscatter712]

15. Correct answer.

All you have to do is raise or remove the income cap on FICA taxes, and Social Security is solvent for the foreseeable future.