2016 Postmortem
Related: About this forumHere’s how Social Security expansion became a liberal cause again
Social Security Is Having a MomentUntil recently, Democrats were willing to bargain on entitlements. Heres how Social Security expansion became a liberal cause again.
Jamelle Bouie
Slate, Apr 6, 2015
Now, Democrats Support Social Security may sound like a nonstory, a political Dog Bites Man. But its not. Think back to the period stretching from just after the Democratic nadir of the 2010 midterm elections to just after the 2012 presidential election when, caught in Washingtons hysteria over spending, Barack Obama and other Democrats tried hard to strike a bipartisan grand bargain on debt and deficits. In exchange for a modest tax hike of $100 billion over 10 yearstargeted at the wealthiest AmericansDemocrats were willing to cut spending on Medicare, Medicaid, and Social Security.
Liberal activists pushed expansion through 2013 and 2014, with unions and liberal groups like Social Security Works and the Progressive Change Committee Campaign at the forefront. Eventually, this activity bubbled through to Democratic lawmakers. Facing a toughand ultimately futilere-election campaign, Alaska Sen. Mark Begich introduced his plan to protect Social Security by lifting the cap on income subject to the payroll tax, from its present level of $113,700. That same year, then Iowa Sen. Tom Harkin pushed a plan to boost benefits, and Warren joined the fight with a floor speech against a proposal to chain Social Security benefits to a differentand less generousmeasure of inflation.
But the real test of Social Securitys resurgence as a liberal cause is Hillary Clinton. When Social Security solvency meant benefit cuts, she was open to benefit cuts. Now it doesnt. But we dont know where Clinton will fall. We do know that she hasnt locked down the Democratic presidential nomination completely. There are still stakeholders to win and voters to persuade. If liberals make expansion a priority, will Clinton sign on? Or does she have enough party support to resist the call of Elizabeth Warren and keep her prior commitment to entitlement reform? Theres no answer yet, but it will come. That, after all, is what primaries are for.
Related:
Say It Ain't So, Hillary Clinton - You're Open to the Idea of Raising the Retirement Age?
Clinton did not categorically rule out Social Security benefit cuts or raising the retirement age
Clinton's Remarkable Non-Answer Regarding Social Security (Sep 24, 2015)
Hillary Clinton on Social Security Expansion: Words are Wind. A Cold Wind.
Sanders offers Social Security as latest example of many, many differences with Clinton
A Trojan Horse In Clintons Pledge To Enhance Social Security?
Why It's Misleading to Swear to Protect the Poor's Social-Security Benefits
Hillary Clinton's lack of answers regarding Social Security (September 26, 2007)
Thinkingabout
(30,058 posts)order to get the time expanded in the future past 2037, future generations beginning their SS will be in need more than the ones who are currently receiving SS. There are less pensions today than in the time current SS recipients, without pensions the future generations will need SS. Just because Clinton's plan may be different than others does not make her plan wrong and does not make other candidates plan wrong.
LiberalArkie
(15,720 posts)to deduct pension contributions as long as they can not touch them and allow them to use that foreign money for pensions.
Thinkingabout
(30,058 posts)the pensions very well and went broke, example, ENRON, those folks who paid into those plans did not get jack sh*t, nothing so asking corporations to handle pensions. Now if those plans they participated in was insured and the money was removed from their control, taking a deduction for investing in pension plans is not new.
LiberalArkie
(15,720 posts)both US and the money that they don't bring back it would give them incentive to do it. Make it some kind of federal pension plan like railroad pension or like the Feds have now. But the corps could not touch the money like they can't touch the social security money.
Thinkingabout
(30,058 posts)allowed. I question leaving the corporations in charge. At one time people like Romney was "taking over" other companies and robbing their pension plans and it was one of the steel companies Romney took over, sent the company to China, robbed the pension plan and the tax payers had to pick up the pieces. Romney took his money and run. I would have like to have been in an employee contributing plan, those type of plans usually yielded a bigger pension. I feel sorry for our young folks who probably not be in a pension plan and retirement is going to be cruel for them and if we don't makes some changes in SS they will not even get those funds.
Bluenorthwest
(45,319 posts)at all much less one exclusive to any one candidate. It is also very important to expand benefits for future and current beneficiaries for some of the reasons you cited. But 'there must be some changes to ensure the future' is far from being a plan. It is a fine objective but the plan to meet the objective is what we are talking about.
Thinkingabout
(30,058 posts)future generations to reach SS age.
Vincardog
(20,234 posts)and charge SSI on passive income as well. Raise benefits lower the retirement age.
Thinkingabout
(30,058 posts)Raise the benefits and lower the retirement age is the now portion. The amount one gets is based on thirty five years, if one works 30 years then the benefit is still divided by 35. The benefit is based on the highest 35 years of income so if one works past the 35 years the lower years are dropped off. Living on SS alone is difficult and incomes has not been high enough for many to save extra and without a pension life is going to be very frugal.
Vincardog
(20,234 posts)Thinkingabout
(30,058 posts)the full retirement age was raised, starting with those born in 1939 through 1960, the age is going from 65 to 67, and increasing the max cap. This provided some 25 years more, our young folks needs someone to think about them also.