Social Security is literally the easiest problem in DC to solve. All we have to do is raise the Income Cap.
Right now, we pay SS contributions on the first $185,000 in income, and nothing after that. That means anyone making less than $185K pays SS on 100% of their income, but the wealthy only pay it on their first $185K of income, and they pay NOTHING after that.
There is no reason at all that we couldn’t raise the cap to $250K, $500K, $1 million, or even remove it altogether, and make them pay it on their entire revenue. That would solve the probleM, FOREVER.
That’s literally all it would take. These corrupt treasonous MAGA pedophiles like Graham, and others (Mike Lee, Rick Scott, Nancy Mace, etc) would raise contributions, cut benefits, or even end SS altogether, sending millions of people into desperate poverty and homelessness, just so obscenely wealthy people don’t have to pay the annual equivalent of a pack of gum, and pretend it’s what’s best for America.
It would also be laughably easy to solved the billionaire income tax problem.
If the total amount of loans you’ve taken out using investment vehicles as collateral is over a certain variable, it’s taxed as both income and a realized gain.
Something like, 100x the take home pay of the bottom 20% of workers, which is about $1.6m. Maybe have an exclusion if the loan is for a primary residence if you have no other real-estate holdings.
This also has the added benefit of them needing to pay people more to get cheaper loans.
We could also just go after unrealized gains, like we already do with property tax.
The problem is that number is constantly changing. Property taxes have assessors who determine the value and it’s a relatively infrequent change.
By tying it to a loan, you have the value at a point in time where both parties agreed the assets are worth the amount of the loan.
If the total amount of loans you’ve taken out using investment vehicles as collateral
The banks would simply re-write their lending policies to not require such collateral from ultra-high-net-worth individuals. No collateral, no tax on said collateral.
What we need is a securities tax, payable not in dollars, but in shares of the taxed security. No need for the ultra-wealthy to liquidate their holdings; we’ll have the IRS offer shares comprising no more than 1% of total traded volume of each security, so as to minimize market influence. If it takes 10 years or 200 years to liquidate the taxed shares at this rate, so be it.
Natural persons can exempt the first $10 million of their portfolios; no exemptions for artificial “persons” (corporate shareholders). With a sufficiently high tax rate, shares of the “means of production” (and their associated voting rights) become a valuable asset to the working class, but a significant liability to the ultra-rich.
Keep the number the same, but make it a floor instead of a cap.
op is a repost bot btw
Lindsey Graham’s current thoughts on Social Security are somewhat more quiet.
Hell upgraded their acoustic dampening. How nice of you to notice!
Guess she won by just outliving him. GGWP
“They’re literally exactly the same.”
- Insane people
Thinking also of when Warren Buffet said his secretary paid a higher income tax rate than he did.
Dead men tell no tales. One grave closer to a better world.
Rest in piss. I don’t care if he might have liked it. It’s for us, not him.
I’m already not retiring as it is. There’s no way I can save millions of dollars at this point. I treat my “retirement” accounts as just long term savings accounts that automatically accrue when I earn. Nothing else.
Superannuation is an imaginary inheritance that I will never be able to use because I’ll never get to retire, and wont go to anyone because I’m not having kids.
Life is great.
At least he’s dead.
his soul belongs to mitch mcconnels now.
I endorse the message but I hate the use of AI to produce political memes.
Now do AOC vs Graham on stopping the rail unions from striking.
I’m out of the loop. What were their stances on that issue?
mitch mcconell took your soul.
I say we start by eliminating pensions for public service. So what you held an office, go back to work. While we’re at it, public officials can have the exact same healthcare options as every other citizen.
If it’s not going bankrupt how are billionaires the problem?
And both are trash
Edit: looks like I triggered BlueMAGA
So what, pray tell, do you believe in?
Not fake politicians that talk one thing while supporting the empire.
Very enlightened. What should AOC be focusing on besides this?
Don’t bother, they aren’t going to engage in good faith. They want purity and accelerationism rather than praxis and pragmatism.
I don’t mind trying, but I get the frustration. People would rather sprint then walk, but if you actually want to get somewhere it’s just one foot in front of the other.
Hows that incrementalism working out for you? More then 50 years of ‘lesser evil’ with nothing to show for it other than a greater evil
She doesn’t focus on anything other than buzzwords to sound progressive. She talks one thing then backs the oligarchy
What are some particular marks on her voting record you really disagree with?
Nobody is asking what you do not believe.
So you’re going to shit on only the left wing of the party but not the centrists.
There is no left wing of the party, they are all right wing fascists upholding and defending their owners.
Sure. It’s not that you just hate the leftmost members of the party but not the genocide wing.
Gotta uphold that “both sides are the same” story so nobody goes to vote for the democrats and the republicans can have a clean sweep.
Democrats are Republicans they both uphold the same fascism this country was built on. One side just makes you happy that they are the ones doing it.
If this story was about the genocide pedo side of the DNC I would be, but you’ll notice it’s not. You’ve been around here long enough to have witnessed me trashing Biden before during and after his presidency along with every other Democrat.
Ooo wow purity politics, so brave.
Not purity, it’s accountability, which liberals refuse to do
You disagree with AOCs statement? Or are you doing a “both sides bad?” I haven’t seen a “both sides bad” in a little while. Can you do it blindfolded?
Her statement is hollow and means nothing.
