There was a commentary in HuffPo focusing on the 15.3 percent Social Security and Medicare tax that the working poor have to pay.
I commented that this 15.3 percent tax on low-income earners originally was meant to be put in a lockbox or savings fund for their use after they retire, but it just gets immediately spent on current government programs – and perversely, helps fund the Social Security and Medicare payouts to middle- and high-income retirees.
That means we need to put that 15.3 percent in an actual savings fund for the worker’s own use when he or she retires, and also stop transferring payroll tax money from the poor to middle- and upper-income retirees.
Guess who’s standing in the way of that? Dems. Whenever the Repubs try to enact personal savings accounts, the Dems quash the idea, and whenever the Repubs propose means-testing so that transfer payments don’t go to the rich, the Dems kill that as well. The latter aren’t just for welfare for the poor, but for all.
Later I got a reply from “NOTSUPERMOM” whose tagline is “A waste of a perfectly good Yale education,” who’s a “HUFFPOST SUPER USER” and who has 151 fans. She wrote, “I’m surprised and disappointed to hear that Democrats are not in favor of wealth-based social security payouts. It seems completely in line with party policy to direct the payouts to those who actually need them. Can you give me a citation for that vote? Thank you!”
I replied to her, sure. Google “means-testing” and you’ll find lots of material indicating Repub support for it but not Dem support. A case in point is here.
Well, so much for that perfectly good Yale education.