Begich announces bill to keep Social Security solvent by lifting income cap (updated)

[ProSense]

Last edited Sat May 4, 2013, 02:16 PM - Edit history (1)

Begich announces bill to keep Social Security solvent by lifting income cap

By Ramsey Cox

Sen. Mark Begich (D-Alaska) announced Friday a plan to strengthen the solvency of Social Security.

<...>

Begich said he would introduce the Social Security Fairness of Act when senators return from recess next week.

His bill would lift the cap on high-income earners. Currently, income of more than $113,700 is not subject to the payroll tax, which funds the Social Security trust fund. Begich said eliminating this cap and taxing all income would keep Social Security solvent for the next 75 years.

Begich’s bill would also change the way cost-of-living adjustments are calculated. It would replace the consumer price index (CPI) for workers with a formula commonly called CPI for the elderly (CPI-E), which would increase seniors’ benefits.

- more -

http://thehill.com/blogs/floor-action/senate/297683-begich-announces-bill-to-keep-social-security-solvent-by-lifting-income-cap

This is the bill Democratic Senators should support.

Updated to add: Congressman Ted Deutch also introduced this in the House.

The Protecting and Preserving Social Security Act
http://teddeutch.house.gov/uploadedfiles/the_protecting_and_preserving_social_security_act.pdf

It has 22 co-sponsors: http://thomas.loc.gov/cgi-bin/bdquery/z?d113:h.r.649:

[riqster]

1. Kick and rec

[CaliforniaPeggy]

2. Good for him.

I hope this passes.

[bravenak]

3. I'm glad I voted for him.

Finally a senator to be proud of.

[Fumesucker]

4. The Republican crocodiles will be doing the death roll all over this

[Cha]

5. Good for Mark Begich from Alaska!

[AnotherMcIntosh]

6. Is this proposal for real or is it a Trojan horse? The public wants the cap to be lifted. But,

until Begich actually submits the Bill, shouldn't we wait to determine whether he is really offering to raise the cap as a way to cut cost-of-living adjustments in a manner somewhat similar to the way that President Obama wants?

Please excuse me for being cautiously optimistic, and somewhat skeptical, but I've been burned by a politician before.

[Yo_Mama]

24. No, it's a real proposal

CPI-E is a special measure used to calculate an inflation rate for the elderly, which is an experiment by BLS. Article:
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/04/19/meet-cpi-e-the-progressive-alternative-to-chained-cpi/

Here's what it would have looked like compared to introducing C-CPI-U (chained CPI):


CBO analysis of CPI-E:
http://www.cbo.gov/publication/44090

Good question, though!!!

[slipslidingaway]

7. Does the cap on what is paid out also get lifted? n/t

[Sirveri]

35. yes, because there is no cap on pay out, it's all tied to pay in.

That said, values vest differently, so I assume that pay in would continue to vest at 10% return rates above the current cap.

[Hekate]

8. Good for Begich. I wonder how much of a chance this has?

[ProSense]

10. It would be great

"Good for Begich. I wonder how much of a chance this has?"

...if Senate Democrats could just pass bills like the House. That way it would put the onus on the House to deal with it.

[winter is coming]

11. I'll be surprised if it's not quietly shelved without being voted on. n/t

[CTyankee]

36. But it sounds like it's the BEGINNING!

I hope there is a national organization able to take this on as a project and promote it!

[winter is coming]

37. Yes, it does. That's why I suspect someone will try to squash it.

And then things will really get interesting.

[jakeXT]

9. K&R

[closeupready]

12. Good on Begich. K&R

[Ruby the Liberal]

13. I support it.

But it will never see the light of day.

[bvar22]

14. Maybe he can get some help from this guy:

[ProSense]

15. Better yet,

"Maybe he can get some help from this guy:"

...maybe Begich could get help from your Senators. They actually have a vote in Congress. Do you know if they support his plan?

[bvar22]

18. I'm glad you brought that up,

because in 2010 in MY state, The Grass Roots and Organized LABOR went All Out
to give President Obama what he asked for,
Senators and Congressmen that would help implement his agenda.

We organized a statewide campaign to replace Obstructionist, DINO Anti-LABOR Blanche Lincoln (the wicked witch who killed the Public Option, and then CROWED about it)
with a real Democrat in the 2010 Arkansas Democratic Primary.
We did everything right,
AND...we were WINNING,
until...

White House rescues Lincoln's Failing Democratic Primary Campaign in Arkansas

"So what did the Democratic Party establishment do when a Senator who allegedly impedes their agenda faced a primary challenger who would be more supportive of that agenda? They engaged in full-scale efforts to support Blanche Lincoln. Bill Clinton traveled to Arkansas to urge loyal Democrats to vote for her, bashing liberal groups for good measure. Obama recorded an ad for Lincoln which, among other things, were used to tell African-American primary voters that they should vote for her because she works for their interests. The entire Party infrastructure lent its support and resources to Lincoln — a Senator who supposedly prevents Democrats from doing all sorts of Wonderful, Progressive Things which they so wish they could do but just don’t have the votes for.

Ordinarily, when Party leaders support horrible incumbents in primaries, they use the “electability” excuse: this is a conservative state, the incumbent has the best chance to win, and the progressive challenger is out-of-step with voters. That excuse is clearly unavailable here. As Public Policy Polling explained yesterday, Lincoln has virtually no chance of winning in November against GOP challenger John Boozman. And while it would have also been difficult for Halter to beat Boozman, polls consistently showed that he had a better chance than Lincoln did. That’s unsurprising, given how much better non-Washington candidates are doing in this incumbent-hating climate than long-term Washington insiders. And it’s rather difficult to claim that Halter is out-of-step with Arkansas given that they elected him their Lt. Governor. Whatever the reasons Washington Democrats had for supporting the deeply unpopular Lincoln, it had nothing whatsoever to do with electability.

What happened in this race also gives the lie to the insufferable excuse we’ve been hearing for the last 18 months from countless Obama defenders: namely, if the Senate doesn’t have 60 votes to pass good legislation, it’s not Obama’s fault because he has no leverage over these conservative Senators. It was always obvious what an absurd joke that claim was; the very idea of The Impotent, Helpless President, presiding over a vast government and party apparatus, was laughable. But now, in light of Arkansas, nobody should ever be willing to utter that again with a straight face. Back when Lincoln was threatening to filibuster health care if it included a public option, the White House could obviously have said to her: if you don’t support a public option, not only will we not support your re-election bid, but we’ll support a primary challenger against you. Obama’s support for Lincoln did not merely help; it was arguably decisive, as The Washington Post documented today:"

<much more>

http://www.salon.com/2010/06/10/lincoln_6/

After rescuing Lincoln's failing Primary Campaign against a Pro-LABOR Democrat,
the White House couldn't resist adding insult to injury by taunting and ridiculing us for our efforts.

Ed Schultz on the White House insults to Organized LABOR in the Arkansas Democratic Primary
http://videocafe.crooksandliars.com/heather/ed-schultz-if-it-wasnt-labor-barack-obama-

One thing about us Union Thugs,
we may occasionally have to take a Beat Down,
but we never forget a Sucker Punch.

We did EVERYTHING right to give President Obama Senators that would vote FOR his agenda.

[ProSense]

19. So

I'm glad you brought that up, because in 2010 in MY state, The Grass Roots and Organized LABOR went All Out
to give President Obama what he asked for,
Senators and Congressmen that would help implement his agenda.

We organized a statewide campaign to replace Obstructionist, DINO Anti-LABOR Blanche Lincoln (the wicked witch who killed the Public Option, and then CROWED about it)
with a real Democrat in the 2010 Arkansas Democratic Primary.
We did everything right,
AND...we were WINNING,
until...

...your current Senators are Boozman and Pryor?

You're right, they're not going to support this legislation.

"We did EVERYTHING right to give President Obama Senators that would vote FOR his agenda."

You've convinced me that the President is a tool of the one percent, and guess what: He still doesn't have a vote in Congress.

Let's hope people who have Senators who still can be pressured to pass legislation like Begich's bill will do so. That would put the onus on the President to sign or veto it.

[ProSense]

20. BTW, Pryor is up for re-election.

Is he facing a primary challenger?

[bvar22]

22. I don't know yet.

I don't believe that Pryor will merit as much attention as Lincoln did.

I believe The Grass Roots will again join with Organized LABOR to strategically select a few DINOs, and co-ordinate a focused National campaign to put Pro-LABOR/Pro-Working Class "Democrats" in THOSE seats.
The biggest outrage to us was that Lincoln had absolutely NO CHANCE against the Republican in The General. She was the Perfect Choice to give the White House exactly what they claimed they wanted, but the White House rescued her anyway.

One could walk away from Arkansas 2010 believing the the current White House preferred to give that seat to an Anti-LABOR Republican before giving an actual Pro-LABOR Democrat a chance at it.
The insults to LABOR by the White House after that Primary only reinforces that opinion.

I will devote MY small resources to help them with a strategic National campaign.
Unless we can strengthen the majority voice of the Working Class inside the Democratic Party,
the conservative BIG BUSINESS leadership WILL continue pandering to the Free Trading 1%, and chasing the Republican Party ever further to The Conservative Right.



[font color=firebrick][center]"There are forces within the Democratic Party who want us to sound like kinder, gentler Republicans.
I want a party that will STAND UP for Working Americans."
---Paul Wellstone [/font][/center]
[center][/font]
[font size=1]photo by bvar22
Shortly before Sen Wellstone was killed[/center][/font]

[ProSense]

27. Well, then

"The biggest outrage to us was that Lincoln had absolutely NO CHANCE against the Republican in The General. She was the Perfect Choice to give the White House exactly what they claimed they wanted, but the White House rescued her anyway. "

...she shouldn't have won the primary. She also voted against the health care reform bill. So did Pryor.

I mean, it appears that Pryor is going to go unchallenged and will likely win. I doubt focusing on the President is going to change Arkansas politics.

[bvar22]

43. "Well then, ...she shouldn't have won the Primary."

It wasn't near as idiotically simplistic as that.
Without the White House stepping in to rescue Lincoln's failing campaign, she wouldn't have won the Arkansas Primary.
If the White House was at all serious about giving them Progressive that will work with them they would have supported Pro-LABOR/ Pro-Health care Lt Governor Bill Halter,
or at least stayed OUT of a local Democratic Primary.


Halter was ahead in the polls, UNTIL Obama cut a last minute Oval Office Endorsement for the Wicked Witch who killed the Public Option,
The 24/7 running of the Obama endorsement of Lincoln was bad,
but then the Old Dog was sent back to Arkansas to campaign and raise funds for Lincoln,
and toured the primarily Black areas GOTV for Lincoln by saying that Lincoln was working closely to assist President Obama in helping the Poor & Unemployed.
It was enough to make a Junk Yard Dog puke.

" Back when Lincoln was threatening to filibuster health care if it included a public option, the White House could obviously have said to her: if you don’t support a public option, not only will we not support your re-election bid, but we’ll support a primary challenger against you. Obama’s support for Lincoln did not merely help; it was arguably decisive, as The Washington Post documented today"

If there is ANY doubt in anyone's mind, that doubt should easily be settled by the behavior of the White House after they were able to pull Lincoln's campaign out of the fire.

Ed Shultz on the White House Insults to LABOR after the Arkansas Primary
http://videocafe.crooksandliars.com/heather/ed-schultz-if-it-wasnt-labor-barack-obama-

The White House, The DCCC. The DSCC, the DNC, or ANY National Democratic Party Organization has absolutely NO BUSINESS interfering in local Democratic Primaries.
When they do, the goal is to subvert Democracy,
and thwart the Will of the People.

I'm looking forward to the Democratic Primaries of 2014.
In fact, I'm ALL Fired UP!!!

[ProSense]

45. Speaking of

It wasn't near as idiotically simplistic as that.
Without the White House stepping in to rescue Lincoln's failing campaign, she wouldn't have won the Arkansas Primary.
If the White House was at all serious about giving them Progressive that will work with them they would have supported Pro-LABOR/ Pro-Health care Lt Governor Bill Halter,
or at least stayed OUT of a local Democratic Primary.


Halter was ahead in the polls, UNTIL Obama cut a last minute Oval Office Endorsement for the Wicked Witch who killed the Public Option,
The 24/7 running of the Obama endorsement of Lincoln was bad,
but then the Old Dog was sent back to Arkansas to campaign and raise funds for Lincoln,
and toured the primarily Black areas GOTV for Lincoln by saying that Lincoln was working closely to assist President Obama in helping the Poor & Unemployed.
It was enough to make a Junk Yard Dog puke.

..."idiotically simplistic," suggesting that Obama stepped in and helped her to win the primary, but was unable to help her win the election fits that phrase.

I mean, Pryor is going unchallenged and will likely win. Face it, people who decided to hold a grudge against Lincoln caused her to lose. Those same people are likely going to vote for Pryor. If she could have been easily unseated without WH interference, why is Pryor going unchallenged? Why didn't the same group the primaried Lincoln build on its efforts to unseat Lincoln to try to unseat Pryor?

[Nite Owl]

29. Wasn't that when

Emmanuel called us F----n' Retartds?

[ProSense]

31. Is that why Lincoln won the primary and lost the election? n/t

[whathehell]

34. +10 n/t

[pa28]

40. That guy should run for president. He convinced me that raising the cap is the right move.

Seriously though. Now that he IS president maybe he should explain to us why it's not the right move all of a sudden.

[Laelth]

16. It's a good idea, but I don't like the framing.

Social Security does not have a solvency problem. The treasury has a solvency problem, and it owes SS a lot of money. When that money is paid back, SS will be fine.

-Laelth

[ProSense]

17. OP updated. n/t

[Wounded Bear]

21. K & R, but with not a lot of hope....

It makes too much sense for it pass in today's Congress/Senate.

[randome]

23. The economy is about more than just numbers. Republicans fail to note this.

The economy also functions fluently with a sense of stability for the future. Putting our minds at ease about the future of Social Security is just as important as anything else they do for the program.

We have too many things draining our confidence level. It's time to inject more confidence into the system.

[JaneyVee]

25. Good bill. But didn't he vote against gun control? Maybe his conscience is weighing in.

[DonViejo]

30. Yes, he did...

and back then (April 18) he was an "asshole" http://www.democraticunderground.com/1014458318#post1

but, this week, apparently he's a good guy.

Begich Explains Background Check ‘No’ Vote: We Shouldn’t Legislate With Our Emotions

http://www.democraticunderground.com/1014458318

[ProSense]

32. Maybe,

"but, this week, apparently he's a good guy."

...just maybe, he's still an "asshole." If only this bill was proposed by a Senator who isn't an asshole. Would be even better if more assholes in the Senate did the right thing and voted to pass this bill.

That's a problem with Congress: It's filled with too many aspiring, definite and occasional assholes.

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2700676
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2700703

There is hope: We no longer have to deal with Lieberman and Nelson. Baucus is about to be history. Yay!

[DonViejo]

33. Like you wrote, "...just maybe, he's still an 'asshole.'"...

Hopefully some other Senators will sign on to this bill and it will become law. Again, like you wrote, "there is hope."

[Auntie Bush]

26. Thank goodness someone's finally doing this! It's about time!!!!!

I hope Obama approves and pushes this. However that wouldn't make him seem like a compromiser.

[corkhead]

28. I suspect the PTB will not agree to this plan

[eridani]

38. So how come a house bill number but no senate bill number?

[Stretch714]

39. That 100K or what ever it is cap should have never been put in place to start with.

Get rid of it now.






ETA. Sorry clicked on the wrong reply button

[ProSense]

42. Found this:

http://thomas.loc.gov/cgi-bin/bdquery/z?d113:S.308:

[eridani]

46. Thanks! Very helpful n/t

[annabanana]

41. Makes WAY too much sense.

And would be WAY too popular.

[1StrongBlackMan]

44. Are you suggesting ...

that OUR congress can do something other than sit back and wait for President Obama's proposals to be shot down?