Quantcast
Connect with us

Obama-GOP tax deal the beginning of the end of Social Security, Sen. Sanders says

Published

on

President Obama’s agreement to begin diverting some payroll taxes away from Social Security could spell the beginning of the end of America’s social safety net, according to Sen. Bernie Sanders (I-VT).

“I just spoke this afternoon to one of the leaders of one the largest the senior organizations in this country and she worries so much that when you start diverting $112,000 of payroll taxes away from Social Security, this could be the beginning,” the senator said during a Monday broadcast of MSNBC’s The Ed Show.

ADVERTISEMENT

“Our Republican friends like this idea,” Sen. Sanders continued. “And they will extend, I fear, that concept. It is not good for the future of Social Security.”

Republicans have long sought to dismantle the current Social Security program and replace it with a privatized alternative. One such alternative is a kind of forced-savings program tied to the stock markets, which was inspired by economic policies instituted in Chile by right-wing dictator Augusto Pinochet.

In August, President Obama said Republican’s plans for privatizing Social Security were “an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders and the ups and downs of the stock market.”

The president had insisted that if Republicans retook Congress in 2010, they would attempt to destroy Social Security

The tax deal proposed by President Obama includes a temporary two-year extension of tax cuts for all income-earners, a 13 month extension of unemployment benefits, and a reduction in the payroll tax.

ADVERTISEMENT

Budget estimates predict tax cuts for the highest earners will grow the national debt by over $700 billion over the next decade.

“One that does not give billions and billions of dollars in tax breaks to people who don’t need it and then force our kids and our grandchildren to pay that off by an increasing national debt,” Sen. Sanders said.

Sen. Sanders, who on the Senate floor last week spoke against the tax deal for over eight hours, thinks President Obama did not have to compromise with Republicans in order to extend tax cuts for the middle class and extend unemployment benefits.

ADVERTISEMENT

“What the president in my view, what all of us should have done, is gone around the country, rallied the American people, and say, ‘really, do you think we should be lowering the estate tax for the top three-tenths of one percent?'” he said. “Do you really think that billionaires need a tax break? I think we win that debate and then we come to the table with the Republicans on the defensive, not us.”

President Obama defended his tax cut compromise with Republicans by saying the deal was necessary to prevent the American people from being harmed.

ADVERTISEMENT

“I’ve said before that I felt that the middle-class tax cuts were being held hostage to the high-end tax cuts,” he said at a press conference. “I think it’s tempting not to negotiate with hostage takers — unless the hostage gets harmed. Then, people will question the wisdom of that strategy.”


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Commentary

Trump unleashes yet another maddening scandal as he opens the door to Saudi Arabian interference

Published

on

I don’t often talk about how mad I am. I don’t often talk about how mad I am, because talking often about how mad I am prevents me from speaking clearly and rationally. I want to speak clearly and rationally. There is so much need for speaking clearly and rationally amid the endless streams of waste and filth polluting our public discourse.

This article was originally published at The Editorial Board

But I can’t speak clearly and rationally at the expense of morality. Morality often begins with a feeling. The Gospels tell us of Jesus looking on the poor—he could hear and smell their misery—and he was “moved with pity.” But another way of putting it, another way of translating σπλαγχνισθεὶς, is that the rabbi felt compassion “in his guts.

Continue Reading

Facebook

US Supreme Court lets stand Kentucky law with abortion restrictions

Published

on

The US Supreme Court on Monday let stand a Kentucky law that requires doctors to make patients seeking an abortion look at fetal images taken by echocardiogram and to listen to their heartbeat.

Without explanation, as is customary, the top US court refused to hear a suit challenging the state law, which was passed in 2017.

The law requires doctors to show patients echocardiogram images of the fetus and describe to them its size and organs and have them listen to its heartbeat if it is detectable, even if the patient objects.

Kentucky's authorities justified the measure as needed to obtain the patient's "informed consent" before proceeding with an abortion.

Continue Reading
 

Breaking Banner

Chris Wallace shreds Ken Starr: Trump’s scandal ‘a much bigger issue than whether Bill Clinton lied about sex’

Published

on

Fox News host Chris Wallace argued that the deeds President Donald Trump is accused of are more serious to the country than President Bill Clinton's actions, who was impeached for lying about sex.

During a break in impeachment hearings on Monday, Wallace called out Ken Starr's "characterization of this process and what we heard today... he said that the presentation against the president is narrow, prosecutors look through the world through dirty windows, it's slanted."

"And you know, it just seems to me -- and Ken, I see you there on the screen so I'll be talking directly to you -- when you compare this to the Clinton impeachment, which was basically about whether the president had lied under oath about sex," Wallace continued. "I'm not talking about whether this story is true or not."

Continue Reading