Obama backs lifting income cap for Social Security

Comments (7)
yup1234 wrote:

Major news outlets should be ashamed to report “news” that is so disingenuous. Social Security is running a deficit right now. I guess the government doesn’t consider government bonds placed in the “trust fund” to be the same as government bonds the government has recently created in the marketplace. Actually they do consider them the same, just when they report propaganda like this, they use language meant to confuse the public.

Apr 19, 2011 4:27pm EDT  --  Report as abuse
4ngry4merican wrote:

I would love to hear Republicans’ justification on why raising the income cap is a bad idea. I would love to hear why there even needs to be an income cap at all.

Apr 19, 2011 4:42pm EDT  --  Report as abuse
twosausages wrote:

Does this mean that the distribution is raised as well? Otherwise, this appear to be just another “redistribution of wealth”. Frankly, I’d rather not be funding anyone’s retirement any more than I currently am. And Warren Buffet shouldn’t be responsible for funding retirement for the masses, either — don’t punish the rich for being American.

Apr 19, 2011 5:39pm EDT  --  Report as abuse
nieldevi wrote:

“which were borrowed by the government to help finance income tax cuts” Pretty much says it all…

Apr 19, 2011 6:59pm EDT  --  Report as abuse
GeyeJo wrote:

@4ngry4merican Social security is designed to help Americans forcibly save for their own retirement. Ideally, every American should get out the same amount that they put in.

Since the federal government merged social security into the general fund, the government has the ability to raid your savings and use it for pork barrel spending. It is supported by raises in taxes. Unfortunately, it has become a tax like every other. Further raising the cap so Americans get less money than they put in, would be yet another hidden tax.

Apr 19, 2011 8:07pm EDT  --  Report as abuse
Hansard wrote:

Bipartisan cooperation thus far has translated to: Alright, show me what you wish to try, if I don’t like it, Harry will know shortly and if, by some sort of miracle, it gets past the senate, I’ll veto it so fast it will be as if it never existed. Next!

Apr 20, 2011 1:01pm EDT  --  Report as abuse
mayabee wrote:

To Twosausages: This isn’t a redistribution of wealth. Individuals can only take out what they put in. The federal government has taken money from SS and not repaid that. While you may see this as punishing the rich, the rich have greater access to government through lobbying and the majority of people in Congress are wealthier individuals. Also the rich pay a disproportionately smaller amount of taxes currently due to our current tax code. We have real class disparity and issues in this country that need to be addressed.

Apr 23, 2011 12:30pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.