Chained CPI affects much more than Social Security.

[woo me with science]

Last edited Wed Dec 19, 2012, 04:59 PM - Edit history (1)

It affects everyone, every social program, every human being in this country, who is affected by the Consumer Price Index.

It is a right-wing looting, a scam, and a regressive tax increase.

Democrats don't reject changes ONLY to Social Security. We reject all corporate assaults on human beings who have already been looted and laughed at by the one percent. We must reject ALL chained CPI proposals, even the slick ones that we are told will contain protections for Social Security recipients or "the most vulnerable."

Democratic Presidents should not be assaulting the 99 percent at all. Period.

I smell Republican and Third Way game playing, the goal of which is to justify implementing a chained CPI across the board in this country, and to justify it because some sort of protection for SS recipients will be included.

Democrats do not support a chained CPI, period. Adopting a chained CPI means saying "fuck you" to the disabled, to veterans, to federal retirees, and to the 99 percent.

Don't fall for the right-wing spin. We should not even be talking about this garbage.

[Little Star]

1. +1

[dennis4868]

2. But it will have ZERO effect...

on people who don't have much...read the transcript from the WH daily briefing. There will be a special exemption for these people.

[DJ13]

4. Sure

Thats believable........

[Luminous Animal]

8. Actually, it will result in a tax increase that will hurt the poor the most and barely affect the 1%

Even if Social Security is exempt, it is going to hurt the majority of us.

The Chained CPI would also effectively raise taxes on virtually all working Americans, especially middle and lower income families. By applying it to all government programs, including the annual adjustment in income tax brackets, the Chained CPI would cause those thresholds to rise more slowly than they do now. That would lead to incomes jumping up to higher tax brackets faster, or in other words, income tax increases.
According to Congress’ Joint Committee on Taxation, if individual income taxes were indexed to the Chained CPI starting in January 2013, by 2021, 69 percent of the gains in revenue would come from taxpayers with incomes below $100,000, while those in the highest income brackets would barely be affected. For example, workers with incomes between $10,000 and $20,000 would experience an increased tax burden of 14.5 percent, while those with incomes over $1,000,000 would just see an increase of 0.1 percent. 9 This contradicts the idea that the negative effects from benefit cuts due to a switch to the Chained CPI would be offset by increased revenue from the wealthy.

The above is an excerpt from a report from the Center For Economic And Policy Research. You can download the report from this page:
http://www.cepr.net/index.php/publications/reports/the-chained-cpi-a-painful-cut-in-social-security-benefits-and-a-stealth-tax-hike

And a link to the press release
http://www.cepr.net/index.php/press-releases/press-releases/chained-cpi-cuts-social-security-benefits-while-raising-taxes-on-the-middle-class

[CaliforniaPeggy]

3. I agree. But why is the President proposing it?

Especially when he ran against any change to SS.

I need clarification on all of this.

[woo me with science]

5. Because corporate money floods Washington,

and drives policy, and we fool ourselves by pretending that only the other party is affected by what we have allowed to happen to our government.

You are right...The most outrageous thing about the repeated hostage-taking of SS to impose austerity is that it is completely unnecessary. It is theft by the one percent, pure and simple.

That it keeps being inflicted on us again and again and again shows the depth of the problem we have with corporate money and power in both parties in Washington.

[woo me with science]

6. Kick

[closeupready]

7. The dem position should be a left-leaning mirror image

of WHATEVER the Republicans have staked out.

Particularly since WE WON. And Americans do NOT WANT SS TOUCHED.

So if Republicans want 10% cuts, we should be demanding a 15% expansion.

K&R