Clinton is open to raising Social Security taxes on six-figure earners

[portlander23]

Clinton is open to raising Social Security taxes on six-figure earners
Max Ehrenfreund and Anne Gearan
August 12 , 2015
Washington Post

Democrats in Congress, along with other contenders for the party's presidential nod, are saying that a costly increase in benefits is necessary, given how few workers are able to save for retirement.

So far, Clinton hasn't embraced the liberal prescription for Social Security, but her views could be changing. At a town hall here Tuesday, she said she'd be open to a Social Security tax increase proposed by Sen. Bernie Sanders (I-Vt.), her radical rival in the primary.

During the 2008 campaign, Clinton had flatly rejected such an increase. Her comments this week could suggest that she has warmed to the idea, or that she is responding to a broader shift to the left among Democrats.

"We do have to look at the cap, and we have to figure out whether we raise it or whether we raise it a little and then jump over and raise it more higher up," Clinton said.

Sanders's proposal -- increasing payroll taxes, but only for the wealthiest earners -- resembles the one President Obama laid out as a candidate in 2008. Obama had promised not to raise taxes on anyone earning less than $250,000 a year, many of whom consider themselves in the upper middle class. Subjecting income over $250,000 to the payroll tax would make up about three-quarters of the program's shortfall over the long term, Social Security's actuaries project.

At the time, Clinton opposed the idea. "I'm certainly against one of Senator Obama's ideas, which is to lift the cap on the payroll tax," she said in a Democratic primary debate then.

So far in this campaign, she has not taken a clear position on the question of Social Security's future.

"What do we do to make sure it is there?" she asked on an earlier trip to New Hampshire. "We don’t mess with it."

A spokesman for Clinton's campaign declined to elaborate on her comments.

At some point in this campaign, Mrs. Clinton will have to take a position on this and clarify her position on raising the retirement age and means testing. She should also clarify if she still prefers a commission, similar to Simpson-Bowles, as she has supported in the past.



Related:

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

Clinton did not categorically rule out Social Security benefit cuts or raising the retirement age

Say It Ain't So, Hillary Clinton - You're Open to the Idea of Raising the Retirement Age?

A Trojan Horse In Clinton’s Pledge To “Enhance” Social Security?

Why It's Misleading to Swear to Protect the Poor's Social-Security Benefits

[lumberjack_jeff]

1. Obama said the same thing. nt

[Flying Phoenix]

2. Simple answer to securing Social Security's solvency

Remove the cap.

[Human101948]

5. You're absolutely correct, collect at the same rate for everyone...

No fucking cap! At any level!

Result: Social Security secure and funded forever.

[CharlotteVale]

3. Her equivocating triangulation speaks for itself.

[senz]

7. Always.

[DCBob]

4. It's clear to me she is not in favor of raising ss taxes on incomes simply in "6 figures."

From the article..

Clinton was responding to a question from the audience at a community college about the fact that the wealthy and upper middle class don't pay Social Security taxes on anything they earn above a certain amount. That limit is $118,500 this year.

"I can understand why you'd think that was unfair," the former U.S. senator and secretary of state said, before suggesting an increase in the limit. If the cap were raised, anyone pulling down six figures this year would have to pay taxes not only on their first $118,500, but also on any money they made above that amount, up to the new limit.

Clinton then described an approach similar to Sanders's -- raising taxes only on the wealthiest earners to avoid an increase for people who consider themselves upper middle class.

I think she will probably go with something like what Sanders and Obama were proposing which only raised ss taxes on those over $250,000. That would make more sense.

[UglyGreed]

6. I think I heard that from someone else

It's like deja-vu, all over again.

Yogi Berra

[senz]

8. Lordy, is she coming round...

thanks, Bernie!

Wouldn't it be great if we could sort out which of her statements, if any, she actually means?

[UglyGreed]

9. Sorting out her statements

will take a lot of time and most likely make one's head spin.

[senz]

10. True. She'll say anything.

Like one of those dolls I had as a kid (dating myself) -- pull a string in the back and a little voice says one of several preprogrammed phrases. Totally random.

Must have been a Hillary doll!

[Robbins]

11. If you believe this

your a fool.