Date: September 17, 2019
“Elizabeth Warren has a plan to lift millions of seniors out of poverty, and so far the plan has been met with fear from the media and the rich!
For decades, progressives have been talking about eliminating the cap on the Social Security tax and raising Social Security benefits enough that retired and disabled people can actually survive. It makes no sense that working-class people have to pay Social Security tax on 100% of their income and a billionaire might pay the Social Security tax on less than 1% of his income, At the same time, seniors are rationing medicine and literally eating dog food.
Warren wants to use the money from removing the cap to give everybody on Social Security a $200 a month raise, which will lift 5 million seniors out of poverty, cut the senior poverty rate by 68%, and provide a strong stimulus to the economy because virtually every penny of that money will rapidly be spent.
It’s time that wealthy people pay their fair share of Social Security taxes, and disabled and retired Americans who are struggling to get by in this Reaganomics economy don’t have to make decisions like, “Do I buy food or do I buy my prescriptions?”