Welcome login | signup
Language en es fr
OccupyForum

Forum Post: "Social Security is Strong" : by Sen. Bernie Sanders (I-Vt.)

Posted 1 year ago on April 25, 2012, 5:54 p.m. EST by shadz66 (17677)
This content is user submitted and not an official statement

''Social Security is Strong''

by Sen. Bernie Sanders (I-Vt.)

A new report today by Social Security trustees showed the program's trust fund has $2.7 trillion in reserves and will grow to $3.06 trillion by 2021, enough to maintain the unbroken record of paying every nickel owed to every beneficiary in full for another two decades.

Sen. Bernie Sanders (I-Vt.) has introduced legislation to strengthen Social Security and guarantee benefits for 75 years by extending the payroll tax that most Americans already pay to those who earn above $250,000 a year.

"The most effective way to strengthen Social Security for the next 75 years is to eliminate the cap on the payroll tax on income above $250,000. Right now, someone who earns $110,100 pays the same amount of money into Social Security as a billionaire. That makes no sense," said Sanders, the chairman of the Defending Social Security Caucus. He also chairs the Senate aging subcommittee.

Under the proposed legislation, the wealthiest Americans would pay the same payroll tax rate already assessed on those with incomes up to $110,100 a year. Social Security officials have calculated that the simple change would keep the retirement program strong for another 75 years. The legislation also follows through on a proposal that President Barack Obama made in 2008 when he was running for president.

The Keeping Our Social Security Promises Act is cosponsored by Sens. Daniel Akaka (D-Hawaii), Richard Blumenthal (D-Conn.), Barbara Boxer (D-Calif.), Al Franken (D-Minn.), Amy Klobuchar (D-Minn.), Patrick Leahy (D-Vt.), Claire McCaskill (D-Mo.), Barbara Mikulski, (D-Md.), Harry Reid (D-Nev.) and Sheldon Whitehouse (D- R.I.).

Since it was signed into law 76 years ago, Social Security has kept millions of senior citizens, widows, widowers, orphans, and the disabled out of poverty. Before Social Security, about half of senior citizens lived in poverty. Today, less than 10 percent do.

"I strongly disagree with some of my colleagues who want to balance the budget by cutting Social Security, Medicare, Medicaid and other programs that are of enormous importance to seniors and the working families of our country. There are ways to address the deficit crisis without attacking some of the most vulnerable members of our society. As chairman of the Defending Social Security Caucus, I will do everything in my power to make sure that the promises made to seniors will be kept."

Social Security provides support for 55 million people, including 38 million retired workers, 6 million widows, widowers and orphans, and 11 million disabled workers. The most successful government program in our nation's history has not contributed one dime to the federal deficit.

~

fiat lux ...

~

[Item copied verbatim under "Fair Use" from : http://www.informationclearinghouse.info/article31164.htm ]

31 Comments

31 Comments


Read the Rules
[-] 4 points by Puzzlin (2898) 1 year ago

This is the truth that is found scarcely. Bernie Sanders is one of the very few that really speak for the middle class but gets little air play. This message needs to get out there. If the Republicans (GOP) abolish Social Security which is what they intend we will begin a life in a country that no longer gives a good crap about anybody but the super rich. These greedy rich fat cats are trying to buy our democracy right out from underneath us. We MUST stem this tide or we will lose our way.

The Repugnant Party wants our country to FAIL, it's their strategy to reclaim the presidency, senate, and house. AND then hand it over to the rich by permanently enshrining their tyranny into law.

We can not let the GOP slide here. Their intention is to gut the hell out of SS by underfunding it by Blaming it for our deficit which is an outright LIE. Once gutted it will surely die and then we will return to much earlier days here in America when the Robber Barons ruled the landscape with their $$$$$. If you weren't making it then, your best bet would be to find a good ditch to lay down in and die. Life was crap and living takes on a different dimension. Maybe this is why history repeats, we never learn, so we keep going back to end of the line just before reaching the front. The lemming nature of humanity.

GET THIS MESSAGE OUT. We need stand the line on SS!

The Puzzler

[-] 2 points by shadz66 (17677) 1 year ago

That "Social Security Is Strong" is absolutely NOT a "Puzzlin'' matter but Corporate MSM won't ever say so and therefore Sen. Sanders is very important. Thus :

crede quod habes, et habes ...

[-] 2 points by Puzzlin (2898) 1 year ago

Excellent point. Social Security is plagued with mythology that is perpetuated by most people who discuss it. I can only hope more people become educated about it soon before it becomes targeted for cuts that will further decline the middle class in this country. The wealthy "pay for play crowd" want more rewards for their wallets as they support the right wing nut jobs to further reduce their tax burden as their government cuts the social safety net out from underneath tens of millions hard working average middle class Americans. We can become a nation that no longer gives a care. Social Darwinism played at high stakes, winner takes all. If we let it. History does repeat, it can now...

The Puzzler

[-] 3 points by DKAtoday (33128) from Coon Rapids, MN 1 year ago

Thanks for posting this. As everyone benefits from the work that is done the rich getting a lions share of that benefit - I see no reason for a cap to contributions at all.

Gotta love Bernie Sanders.

[-] 1 points by shadz66 (17677) 3 months ago

''A nation will not survive morally or economically when so few have so much, while so many have so little. It is simply not acceptable that the top 1 percent owns 38 percent of the financial wealth of the nation, while the bottom 60 percent owns all of 2.3 percent. We need to establish a progressive tax system which asks the wealthy to start paying their fair share of taxes, and which ends the outrageous loopholes that enable one out of four corporations to pay nothing in federal taxes.'' ;

''At a time when only one in five workers in the private sector have a defined benefit pension plan; half of Americans have less than $10,000 in savings; and two-thirds of seniors rely on Social Security for more than half of their income, we must expand and protect Social Security so that every American can retire with dignity.'' &

''During the financial crisis, huge Wall Street banks received more than $700 billion in financial aid from the Treasury Department and more than $16 trillion from the Federal Reserve because they were "too big to fail." Yet today, the largest banks in this country are much bigger than they were before taxpayers bailed them out. It's time to break up these behemoths so that they cannot cause another recession that could wreck the global economy.'' from :

''Gotta love Bernie Sanders'' !!!

respice, adspice, prospice ...

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 1 year ago

Boy did you see all of the republican signatures in support?

Wow I AM ABSOLUTELY STUNNED BY THE BIPARTISAN SUPPORT.

See? Now this is an issue that everyone can support.

[-] 3 points by shadz66 (17677) 1 year ago

Appreciating your acerbic sarcasm there 'DKAt' :-)

Older voters tend to vote and have memories and even Replicants should have known which side their bread is buttered when it comes to the imminent elections ... you'd think so anyway !!!

multum in parvo ...

[-] 3 points by DKAtoday (33128) from Coon Rapids, MN 1 year ago

This is something that every official should be aware of. There are a lot of us older voters too.

[-] 2 points by shadz66 (17677) 1 year ago

High time to mobilise all The Grey Radicals and get them to ally and inspire the younglings !!!

dum spiro, spero ...

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 1 year ago

I would love to see an outreach to AARP and a similar response from them. This I believe would be a healthy relationship.

[-] 2 points by Nevada1 (4024) 1 year ago

Hi shadz66, Thank you for this post. It says so much. Best Regards

[-] 1 points by shadz66 (17677) 1 year ago

Thanx 'Nev1' and I'm drawing your attention to the essential but disturbing documentary that I've linked to in my reply to 'GirlFriday' as well as the links below.

pax, amor et lux ...

[-] 2 points by Nevada1 (4024) 1 year ago

Thank You

[-] 2 points by GypsyKing (9727) 1 year ago

Yeah, I just heard a scare piece about this on CBS awhile ago, saying that social security was running out of money. In the piece, if I recall correctly, they referred to it as an "entitlement." Man, that made my blood boil. Both of those things are a complete lie.

[-] 1 points by penguento (362) 1 year ago

The only problem is that there isn't any such thing as the social security trust fund -- it's an accounting fraud. The money that's collected is turned over to the treasury and immediately spent. The treasury then issues an IOU in the form of a treasury bill, that can only be paid off by collecting more taxes from the same people they taxed the first time around. There isn't a real, actual dime set aside anywhere. The only thing they have is a very large pile of T-bills payable with future revenues (e.g., taxes)

It's exactly the same as if you had a hundred dollars, wrote yourself an IOU for a hundred dollars, spent the money, and then claimed you had a hundred dollars in "investments." You go to jail for that sort of thing if you're not the government.

[-] 2 points by shadz66 (17677) 1 year ago

Your point holds water but by that standard the entirety of The Federal Budget is "an accounting fraud" and more pertinently "High Finance Kaputalism" is a Giant Ponzi Scheme and a clear 'busted flush' !!!

Thus :

ad iudicium ...

[-] 1 points by penguento (362) 1 year ago

I quite agree - the rest of the federal budget is calculated in a similarly fictitious manner, as are many state and local government budgets. It also happens in business a lot too. The difference in those cases is that none of these other folks can do it with impunity like the feds can. Sooner or later the ponzi scheme goes bust when the money runs out. That's what happens to businesses, and that's what's happened to some cities recently. Someday it'll happen to the federal government too, just like it happened to Greece, it'll just take longer.

[-] 1 points by shadz66 (17677) 1 year ago

A useful pie-chart for you :

pax et lux ...

[-] 1 points by GirlFriday (21784) 1 year ago

Yes. Lift the cap.

[-] 1 points by shadz66 (17677) 1 year ago

Consider, Sen. Sanders' possession of a pair of testicles is coded in (I-Vt.) !!!

Why don't more American States return Independents to Congress ?!!

Or more Demoblican/Replublocrat demoCRAZY deMOCKERYcy ?!

ad iudicium ...

[-] 2 points by GirlFriday (21784) 1 year ago

In many states, the independent is someone that didn't get in with the Republicans. In my area, they are Tea Party people.

[-] 3 points by shadz66 (17677) 1 year ago

"Occupy" The 'Independent' Option On The Ballot !!!

Bring Back Hand Counted Paper Ballots !!

Back To The Future !

per aspera ad astra .

[-] 2 points by GypsyKing (9727) 1 year ago

Yeah, I think it's premature to try to switch to Independent. In fact I think that would be a disaster before the upcoming election.

[-] 1 points by shadz66 (17677) 1 year ago

I see and agree with your line of thought in the short term up to November (as I always have done) but thereafter 'nose-holding and voting' just won't do !! The Duopolistic Faux-Contest betwixt 'Tweedledumb and Tweedledumbass' has to be fractured once and for all or else it'll again continue to be a case of 'plus ca change plus c'est la meme chose' !!!

respice ; adspice ; prospice ...

[-] 2 points by GypsyKing (9727) 1 year ago

Well, we are in complete agreement then. This two party - one party system has to go. How exactly, I don't know, but it has to go.

[-] 1 points by GirlFriday (21784) 1 year ago

I am independent. It has become increasingly difficult to find people that run as Independents that are not Republicans or Tea Party in my area. Well, let me be clear. I have been here 10 years. In that 10 years- that is what I have been seen.

[-] 3 points by shadz66 (17677) 1 year ago

Hate (and a bit scared!) to bore you but so again :

  • "Occupy The 'Independent' Option On The Ballot" !!!

  • "Bring Back Hand Counted Paper Ballots" !!

ad iudicium ...

[-] 3 points by GirlFriday (21784) 1 year ago

You never bore me, Shadz! :D

[-] 1 points by shadz66 (17677) 1 year ago

Thanx :-) & thus on the paltry matter of voting, something to bend your brain more than a bit, so please do strap in and try to set an hour of time aside for :

Audio kicks in at 1min 30 secs + This film is also viewable on 'YouTube' in six parts.

pax et lux ...

[-] -1 points by NationalSocialist (-3) from San Francisco, CA 1 year ago

A true relief that it is very solvent.

[-] 1 points by shadz66 (17677) 1 year ago

Yep, but a very strange moniker there, dude !!!

temet nosce ...