Well, they're at it again. This time it's Chris Christie up in New Hampshire making a lot of noise about the need to make hard choices in dealing with the solvency of Social Security. As usual, those hard choices are hard only for the poor and middle class.
Of course, Christie failed to say anything about the most obvious solution for shoring up Social Security ... simply remove the taxable income cap.
Don't be embarrassed if you didn't know there is an income limit for collecting Social Security taxes. Most of you have probably never experienced it. The cap, adjusted each year for inflation, is currently around $117,000 thus most Americans pay 6.2% on their total income. As income rises, the percentage of Social Security taxes paid relative to income drops thus those earning a million dollars pay 0.66% or less.
Why is there a cap in the first place and why does your local school teacher pay 6.2% of her income while those earning a million a year pay 0.66%? It's the same reason rich folks get tax cuts and subsidies ... the wealthy have more influence on Congress than the poor and middle class do.
Why do we then maintain the income cap in the face of alleged Social Security insolvency? If you ask a commentator at Fox News the reasons are the same lame ones offered up for continuing the Bush tax cuts for the wealthy ... removing the cap would result in a crippled economy and would be a massive job killer ... Of course, this is just more GOP bullshit.
Most Americans are patriotic and more than willing to make individual sacrifices for the good of the whole. Ironically, the objections for paying a fair share usually come from those who can most afford to show their appreciation for all America has given them.
Here's the truth of this from an honorable man ...
"... eliminating the cap makes the system more progressive and minimizes the added burden for low and moderate income workers ..." Jimmy Carter ~ 1977
It makes me sick the gouging of the elderly, sick & poor. I keep thinking how my mother worried about how she was going to make ends meet. She & my dad worked all their lives for a pittance of social security. My sister, brother & I would have taken care of her but it was difficult for her, she who had always been so giving. The thought of others facing this without the help of family upsets me. We have to raise our voices collectively & fight this injustice.
ReplyDeleteI so agree. Those who so willingly abandon their stated principles to support their chosen candidate are complicit...
DeleteYou have a knowledgeable and thoughtful grasp of the important issues, and you write about them very succinctly. Excellent post.
ReplyDeleteThank you so much. Truth is seldom complex...
ReplyDeleteTrust is complex. It has been a long and often frustrating journey with our president . I agree with the fundamental premises of what you are saying. However I am committed to continue my support just a little longer, just as I look forward to the insightful and often clever quips of Cletis Says!
ReplyDeleteThank you, Cee. It would be interesting to discuss these issues with you. To me, truth is generally evident to even those who choose to muddy the water for political purposes. Existential truth is a bit different...
ReplyDeletePutting truth in the realm of existentialism....hmmm...I suspect that a deeper conversation between the two of us would probably be very much in tune of full agreement. (Lol). Politically speaking, your observations are on point. I just do not want to knee jerk this!
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