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portlander23

portlander23's Journal
portlander23's Journal
October 31, 2015

Populist Proposals Remind Why Nurses Trust Bernie Sanders to Heal America

Populist Proposals Remind Why Nurses Trust Bernie Sanders to Heal America
Rose Ann DeMoro
Huffington Post

In recent days, the Democratic Party establishment has stepped up efforts to freeze the momentum for Sen. Bernie Sanders, pressing Democratic Party office holders, who are also convention super delegates, to get in line and trying to create an impression that the contest is over.

These moves coincide with reports that the Democratic Party is again courting corporate influence in their conventions, including VIP access and treatment and premiere hotel rooms. The "menu of reward offerings," reported The Hill, was presented at a meeting of Party officials with lobbyists from the banking, fossil fuel, and insurance industries.

What's going on here? What the power brokers most fear is the populist, anti-corporate upsurge for Bernie Sanders and his campaign.



Sanders' platform that goes a step beyond the other candidates includes:

• Guaranteeing healthcare to all by expanding Medicare to cover everyone, thus ending the disgrace of the 33 million still uninsured as well as removing medical bills as the leading cause of personal bankruptcy.
• Expanding Social Security benefits, not merely opposing cuts.
• Raising the federal minimum wage to $15 an hour.
• Allocating $1 trillion for infrastructure repair - roads, bridges, schools, rail, water and waste disposal systems, creating millions of good paying jobs.
• Free public college tuition, the best way to end student debt.
• A Robin Hood tax on Wall Street speculation - to generate critically needed revenue for jobs, education, healthcare, and climate action.
• Legalizing marijuana, a big step away from the disastrous war on drugs.
• Banning federal funding for private prisons, to reduce a profit incentive for mass incarceration.
• Abolishing the death penalty, which like minor drug arrests and mass incarceration has a disproportionate impact on African-Americans and Latinos.
• Reinstating banking services in post offices, protecting public jobs as well as limiting the predatory practices of check cashing firms who target low income neighborhoods.
• Protecting the right of workers by cracking down on rampant employer abuses against employees who seek to form unions.

Expanding Medicare to all, eliminating student debt, creating millions of good paying jobs through infrastructure repair, raising the minimum wage, increasing Social Security benefits and strengthening the role of unions, would all have an enormous impact on reversing income inequality and the concentration of wealth in the pockets of the top 1 percent.

The Sanders' policy agenda, along with his pledge to break up the banks and make Wall Street and the most wealthy pay for their fair share, and his push to unite a stronger social movement and achieve a political revolution are indeed a threat to the corporate brokers who have such influence in both major parties. All the schemes of the establishment wing to circle their wagons will not stop us now.



Related:

Third Way panics over Bernie Sanders and the new American mainstream

Third Way report pushes back against populism

Third Way Moderate Democrats Confident Clinton Would Govern From the Middle

Clinton Supporters: Should she follow Third Way's order to reject The Left and move to the Right?

Third Way Democrats warn of 'economic populism' and Bernie Sanders

Third Way President: The evidence is in, populism has tanked with the middle class

Lobbyist: Hillary Clinton will become Mrs. Wall Street if she’s elected
October 31, 2015

Black Lives Matter Activists Shout Down Hillary Clinton At 'African Americans for Hillary' Rally



Watching BLM makes me wish Occupy Wall Street had put more pressure directly on candidates.
October 31, 2015

Clinton has yet to commit herself on Social Security

4 big differences among the leading Democratic candidates ahead of Tuesday's debate
Max Ehrenfreund
The Washington Post

Another unanswered question is what Clinton thinks should be done about Social Security. Sanders and O'Malley have both called for more generous benefits for retirees. They believe that too few workers have enough money to save for retirement, leaving them in a difficult financial position when they retire.

Younger people who hope to retire comfortably one day confront another kind of risk, too. The program's trust fund will be exhausted in about two decades, if current trends hold, and beneficiaries will no longer be paid in full.

To pay for expanded benefits, O'Malley and Sanders have suggested increasing taxes on workers with incomes above $250,000. Sanders has additionally proposed a tax on capital gains in excess of that figure, so his plan would likely do more to improve Social Security's finances over the long term. The program's trustees have forecast that Sanders's proposal would allow beneficiaries to be paid in full for the next five decades or so.

Clinton, though, has not yet said what she thinks she should be done about Social Security's solvency or about the incomes of current and future retirees. Earlier this year, she said that the next president should "make sure it is there, and we do not mess with it." Democrats, including President Obama and those close to Clinton, have previously considered a less generous formula for cost-of-living adjustments in Social Security, which would partially close the gap. Liberals in the party have steadfastly opposed those changes.

Yet without changes of some kind, Social Security will only be "there" in a diminished form for people in the middle of their careers today. To improve the program's books, Clinton has indicated she'd consider a tax along the lines of those proposed by O'Malley and Sanders. She has also indicated she wants to expand benefits for the poor retirees, although she has yet to commit herself firmly to either change.



This article ties Clinton to the Chained CPI, though I can't find any evidence of direct support from Mrs. Clinton, only that she has close ties to others who have supported it. That said, finding any specific positions has been very difficult.


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
October 31, 2015

Clinton “Enhancing” Social Security

Hillary’s big speech: Light on details, but a generous dollop of progressive themes
SIMON MALOY
MONDAY, JUL 13, 2015
Salon

“Enhancing” Social Security. The hot trend for Democratic presidential candidates is to call for an expansion of Social Security to collect more revenue and provide more generous benefits than the system currently pays out. Both Bernie Sanders and Martin O’Malley have endorsed adjustments to the payroll tax structure that will bring a bit more fairness to the system, and they both support legislation to boost wages and legalize undocumented immigrants, which would result in more people paying more into Social Security.

Up to this point, Clinton has been cautious when talking about Social Security, saying only that she would “defend” the program against Republican efforts to cut it. In her speech today, though, Hillary said she would “help families look forward to retirement by defending and enhancing Social Security and making it easier to save for the future.”

What does “enhancing Social Security” mean? Well, she didn’t explain. But it’s different than what she’s been saying previously! I’d imagine Hillary’s vision for “enhancing” Social Security probably shares quite a bit with those of Sanders and O’Malley – she also backs higher wages and comprehensive immigration reform. But the tax question is still unresolved. The last time she ran for president, Hillary was firmly against raising additional payroll taxes, and her overall plan for what to do about the Social Security’s long-term health was to appoint a “commission” that would figure something out. Saying she wants to “enhance” the program is vague and will require much more in the way of detail, but hopefully it means she’s moved beyond the passive, hands-off approach to Social Security she took in 2008.



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
October 31, 2015

Clinton tells organized labor she would enhance Social Security for some

Clinton tells organized labor she would enhance Social Security for some
LUCIANA LOPEZ
Reuters

Hillary Clinton has told the AFL-CIO she wants to improve Social Security benefits for women and lower-income seniors, offering a glimpse of the Democratic presidential front-runner's thinking on a topic she has rarely addressed on the campaign trail.

In a questionnaire on labor issues from April that has not been made public, Clinton said she would defend Social Security from Republican attacks and "enhance it to meet new realities."

"I'm especially focused on the fact that we need to improve how Social Security works for women," she wrote in the questionnaire, which was seen by Reuters and confirmed by three union sources.

"I also want to enhance benefits for our most vulnerable seniors," she wrote, adding that she will have proposals on retirement security for Americans "in the weeks and months ahead."

Clinton said this month that she would consider raising the cap on the amount of earnings taxable for Social Security, but has otherwise said little about the program.

However, her main rival for the Democratic nomination, Vermont Senator Bernie Sanders, has proposed expanding the program's benefits.



More means testing talk.



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
October 31, 2015

Resurrecting Glass-Steagall

Resurrecting Glass-Steagall
SIMON JOHNSON
Project Syndicate

This issue is sometimes referred to as “reinstating Glass-Steagall,” a reference to the Depression-era legislation – the Banking Act of 1933 – that separated commercial and investment banking. This is a slight misnomer: the most credible bipartisan proposal on the table takes a much-modernized approach to distinguishing and making more transparent different kinds of finance activities. Sanders and O’Malley are in favor of this general idea; Clinton is not (yet).

There are three main arguments against a modern version of Glass-Steagall. None is convincing.

First, some prominent former officials argue that not all of the financial firms that got into trouble in 2008 were integrated commercial-investment banking operations. For example, Lehman Brothers was a standalone investment bank, and AIG was an insurance company.

At worst, the argument is just plain wrong. Some of the greatest threats in 2008 were posed by banks – such as Citigroup – built on the premise that integrating commercial and investment banking would bring stability and better service.

Second, leading representatives of big banks argue that much has changed since 2008 – and that big banks have become significantly safer. Unfortunately, this is a great exaggeration.

Now, under the most generous possible calculation, the surviving megabanks have on average about 5% equity relative to total assets – that is, they are 95% financed with debt. Is this the major and profound change that will prove sufficient as we head through the credit cycle? No, it is not.

Finally, some observers – although relatively few at this point – argue that the biggest banks have greatly improved their control and compliance systems, and that the mismanagement of risk on a systemically significant scale is no longer possible.

This view is simply implausible.

The best argument for a modern Glass-Steagall act is the simplest. We should want a lot more loss-absorbing shareholder equity. And, to reinforce this, we should want to make the largest banks simpler and more transparent, with “strong structural firewalls” as Dennis Kelleher, of Better Markets, puts it. Of course, in that context, we should ensure that various activities by “shadow banks” (structures that operate with bank-like features, as Lehman Brothers did) are properly regulated.





Related:

Campus Reform: Hillary's Wall Street Donors Shock Young People

Lobbyist: Hillary Clinton will become Mrs. Wall Street if she’s elected

People for Bernie, Wall Street and Other Big Money Interests for Hillary

Colbert: Clinton to Banks- Cut it out!

MATT TAIBBI: Hillary Clinton's Take on Banks Won't Hold Up

Robert Scheer: Go Ahead, Back Hillary Clinton and Forget All About Her Record
October 31, 2015

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

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
October 31, 2015

Clinton's Remarkable Non-Answer Regarding Social Security (Sep 24, 2015)




Every other Democratic candidate wants to expand Social Security benefits and lift the cap. Mrs. Clinton says she's against privatization, but that's way below the progressive baseline set by her opponents. It seems she wants to play little more than defense against the most radical schemes to change the program.

Instead of offering a specific opinion, she's claiming to look to some "independent analysts", and while she claims Social Security should remain a universal program, she's ok if "people of means don't take it", which does sound like more of her means testing language.

She also claims to be looking at a "variety of approaches" and that she haven't settled on anything. Which is odd considering she had less vague (and less progressive) positions on this in 2008. This isn't exactly a new issue.


Related:

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
October 31, 2015

Hillary Clinton on Social Security Expansion: Words are Wind. A Cold Wind.

Hillary Clinton on Social Security Expansion: Words are Wind. A Cold Wind.
Lambert Strether
Naked Capitalism

Here’s the baseline for the left on Social Security. From The Nation:

With boomers retiring without pensions or adequate savings, progressives have proposed expanding Social Security benefits …[3]. Obama, by contrast, has proposed cutting Social Security benefits as part of a “grand bargain” with the Republicans on deficit reduction, a position greatly appreciated on Wall Street. Clinton, like all Democratic candidates, will promise to protect Social Security, but will she support expanding it?


Clinton’s Views on Social Security Expansion

And from the first Democratic debate (October 13, 2015):

CLINTON: Well, I fully support Social Security. And the most important fight we’re going to have is defending it against continuing Republican efforts to privatize it.

BASH: Do you want to expand it?

CLINTON: I want to enhance the benefits for the poorest recipients of Social Security. We have a lot of women on Social Security, particularly widowed and single women who didn’t make a lot of money during their careers, and they are impoverished, and they need more help from the Social Security system.

And I will focus — I will focus on helping those people who need it the most. And of course I’m going to defend Social Security. I’m going to look for ways to try to make sure it’s solvent[5] into the future.


What do words like “fully support” and “defend” mean? Do they mean “expand”? I’m guessing no, since Clinton could have answered “Yes” to the moderator who asked her the direct question. And while we’re at it, why isn’t the best defense a good offense? Surely the best way to “defend” Social Security would be to expand it? (And again, mentally mark down the underlined words “the poorest recipients,” “they need more help” and “those people who need it the most.”)

Issues with Clinton’s Views on Social Security

To begin, remember the words I asked you to mentally mark down? (To review: “especially for women,” “our most vulnerable”, “the poorest recipients,” “they need more help” and “those people who need it the most.”) Think about it: They all imply that Clinton wishes to introduce Social Securiyt benefits that are defined using eligibility requirements (“especially,” “most vulnerable,” “poorest”, “need”). That is, Clinton proposes to convert Social Security from a universal program of social insurance to a welfare program. This is a poisoned chalice that will destroy Social Security as we know it. Social Security should not be means-tested:

Medicare and Social Security are not handouts to the needy. They are not even intended to be a safety net. In their design, they promote the fundamental notion that dignity and good health in old age are not special privileges that can be bestowed or taken away. They are fundamental rights that every working American who has contributed productively to the economy can expect to enjoy. As James K. Galbraith told me in an email, “It’s insurance, not charity.”

Make no mistake: If means-testing on the wealthy is allowed, conservatives will keep pushing until that same means-testing is applied to the middle class, who increasingly must rely on Social Security and Medicare in times of economic uncertainty and job insecurity.


Now let’s look at something Clinton isn’t mentioning today, but has mentioned in the past: A commission, that favorite device in official Washington for diverting hard choices to an unaccountable body. Here’s Clinton in a campaign 2008 debate, at Drexel University in Philadelphia, PA (October 30, 2007):

A: I have said consistently that my plan for Social Security is fiscal responsibility first, then to deal with any long-term challenges. We would have a bipartisan commission. All of these would be considered. I do not want to balance Social Security on the backs of our seniors & middle-class families.


Well, if you want to know what Clinton stands for, one approach — I can’t come up with Clinton’s own views on Chained CPI — is to find out what the famed Clinton network thinks:

As for chained CPI being a “Boehner-McConnell demand,” referring to House Speaker John Boehner and Senate Republican leader Mitch McConnell, this echoes a talking point made by the White House. McConnell did mention chained CPI in a television interview as an indication that Obama was serious about reducing mandatory spending; Boehner implicitly referenced in a letter to Obama by urging a proposal, along the lines of a new plan advanced by Erskine Bowles, as an “imperfect, but fair middle ground.” Bowles, incidentally, is a Democrat and former chief of staff to Clinton.

(A) prominent Democrat was a driving force behind the development of the concept, and others, such as Bowles, have embraced it, as well. … Opponents of chained CPI would do better to drop the partisan attacks and acknowledge that some Democrats are as responsible for promoting chained CPI as Republicans.


In summary:

• Clinton will not commit to Social Security expansion
• Clinton would like to turn Social Security into a welfare program, destroying it
• Clinton would like a Social Security Commission, and past such commissions have produced unconscionable results.

The words: “As President, I’ll expand Social Security” would be very simple to say. Clinton should consider saying them. I can’t imagine why it’s so hard.


Lots more detail at the link, far too much to cite.

Mrs. Clinton has definitely not committed to expanding social security and she has made comments that would indicate a plan to add means testing. As far as a commission, to the best of my knowledge she has not called for that in 2015, though there was this interview with one of her one of her aides in July:



He again brings up "targeting" or means testing and agrees that a "bipartisan" solution is needed, though not specifically a commission.

In August, Brett Bursey (South Carolina Progressive Network Director) asked John Podesta about Clinton's position on Social Security, and while the audio is not great he seems to be saying the campaign has "specific ideas" and ways to pay for them.



I'm having a pretty hard time finding any specifics on Mrs. Clinton's position that don't date back to the 2008 race. Here's one sorta positive article:

Hillary Clinton got one thing very right about Social Security -- but not everything
Michael Hiltzik
LA Times

On this little-understood point, she is absolutely right. Although Social Security is designed to be gender-neutral, women, and especially widows and single women, are the group it serves most poorly. The poverty rate among elderly widows is as much as four times that of elderly married women. That's true for several reasons.

Clinton didn't propose any specific remedies for this enduring problem, but her focus on it is encouraging. That said, she left many Social Security advocates feeling a tad uneasy by stating, "I'm going to look for ways to try to make sure (Social Security is) solvent into the future." That's a formula that could embrace both revenue increases from, say, raising or eliminating the cap on the payroll tax (it applies this year only to the first $118,500 of wages), or cutting benefits — "a double-edged sword," in the words of Eric Laursen, the author of "The People's Pension," a history of Social Security.

Sanders and O'Malley don't leave themselves that wiggle room. Both have come out explicitly for raising the tax cap and increasing benefits for all retirees as a way to make up for the erosion of retirement resources from such traditional sources as employer pensions and personal savings.



For now, the largest indicators of Mrs. Clinton's plans, besides the allusions towards means testing and leaving the door open for raising the retirement age, is what she's not saying. She's not for expanding benefits.


Related:

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

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