You Could Not Make This Up

[David Lockmiller]

New York Times -- January 5, 2024

Fraud in the art world: In 2013, the Russian oligarch Dmitry Rybolovlev spent $2 billion buying artwork, including Leonardo da Vinci’s “Salvator Mundi” and “Tête,” a sculpture by Modigliani. In the years that followed, he began to suspect that a man who had advised him on the sales had been boosting their prices, inventing rejected bids or secretly buying the works himself before reselling them. Now, Rybolovlev has sued the famed auction house Sotheby’s, accusing it of helping the adviser inflate the prices. The trial begins next week in New York.

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Senator Bernie Sanders issued this tweet today:

When half of older Americans have NO retirement savings, we don't need to cut Social Security. Legislation I introduced last year would make Social Security solvent for 75 years, expand benefits by $2,400 a year, and NOT raise taxes on anyone making less than $250,000 a year.

[Gene C]

Bernie's tweet sounds nice, but it also doesn't sound financially possible. How many "older Americans" are there compared to the number of those making over $250,000?

Just another excuse for the gov't taking more of our money instead of being responsible with what they already take.

[David Lockmiller]

(01-05-2024 05:35 PM)Gene C Wrote:  Bernie's tweet sounds nice, but it also doesn't sound financially possible. How many "older Americans" are there compared to the number of those making over $250,000?

Just another excuse for the gov't taking more of our money instead of being responsible with what they already take.

Senator Sanders' proposal:

Some 50 million retired workers, 6 million survivors of deceased workers and 9 million disabled workers and their dependents were all getting Social Security benefits at the end of 2021. That’s 65 million Americans relying on these benefits as all or part of their income.

But under the new estimate, the program’s cost is expected to overtake its income in 2022 and every year after until reserves run out in 2035.

Senate Budget Committee Chair Bernie Sanders says he has a plan to expand Social Security and increase benefits for seniors and the disabled.

“Our job, in my view, is not to cut Social Security, is not to raise the retirement age,” said Sanders, I-Vermont.

The Social Security Expansion Act would keep the Social Security Trust Fund solvent for 75 years by applying Social Security payroll tax on all income, including capital gains and dividends, for people making more than $250,000 a year.

“Ninety-three-point-seven percent of Americans wouldn’t see their taxes go up one penny,” Sanders said.