You Could Not Make This Up

[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.