Obamas Social Security Plan

Matthew Hoy
By Matthew Hoy on October 17, 2008

Courtesy of Greg Mankiw comes this bit of news from Sen. Barack Obamas campaign:

Obama is confident that we can come together to find a workable solution. He believes that one strong option to improve Social Security's long-term solvency is asking people who earn more than $250,000 to pay a little more into the system. But Obama will not raise the retirement age or reduce Social Security benefits.

There's three sliders that you can move on the Social Security "lockbox": Reduce benefits, raise the retirement age or increase taxes.

Obama's choosing to increase taxes.

Of course, if you've pledged to lower taxes on the bottom 95 percent of Americans, then you can only increase taxes on the top 5 percent -- and there's not enough money in the top 5 percent to make Social Security solvent even if you took all of it.

I said yesterday that Obama would raise your taxes -- and I was right.

0 comments on “Obamas Social Security Plan”

  1. Obama said on different occasions that raising the cap for those making over $100,000 would only affect 3% of families; then he said 6% of families.

    The Census shows that 21.8% of families make $100,000

  2. Its amazing to me how many "educated" people think that Obama isn't going to raise their taxes. Most liberal illuminati's can't seem to grasp the concept that everyone has to pay more to "save" social security. Just imagine when Obama implements his healtcare for everyone, we will be lucky to pay just 60% in taxes. He will just smile at us and tell us that its patriotic to pay 60% or more! Need an example, just look to the People's Republic of Hawaii.

  3. I'm always afraid when those lefty, loonie illuminati politicians use phrases like "to pay a little more"!! Yeah, right. Pay a little more into the system so you can bankrupt Social Security when you need a raise or borrow it for some pork program you want!


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October 2008



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