War On Wealth: Warren Whacks “The 2%” With More Taxes To Pay For Social Security Scheme

Via ZeroHedge

Beer-swilling, $430K/year teaching, culturally appropriating 2020 Democratic candidate Elizabeth Warren unveiled a plan Thursday which would bump Social Security benefits by $200 per month, while increasing payroll tax on incomes above $250,000 ($400,000 joint) by a whopping 14.8% – split evenly between employers and employees, according to Bloomberg.

In other words, self-employed Americans enjoying moderate success will enjoy a particularly swift kick in the nuts under a Warren administration.

If enacted in 2020, average Social Security benefits would rise from $1,395 per month to $1,595, according to an analysis by Moody‘s Mark Zandi shared by Warren’s campaign. The plan would also index Social Security benefits to a faster rate of inflation, while providing enhanced benefits to widows, widowers, and caregivers of children below the age of six.

According to Zandi, Warren’s plan would also kick the solvency can down the road around 20 years to 2054.

“We need to get our priorities straight. We should be increasing Social Security benefits and asking the richest Americans to contribute their fair share to the program,” wrote Warren in a Medium.com post, adding that her plan was “the biggest and most progressive increase in Social Security benefits in nearly half a century.”

Warren’s proposal indicates how far Democrats have moved since 2011, when President Barack Obama offered to cut Social Security benefits as part of a “grand bargain” compromise with Republicans to reduce the deficit. It’s in keeping with Warren’s broader policy pitch to enhance the middle class safety net by taxing upper incomes.

Her policy paper comes on the day of the third Democratic debate in Houston, the first time all of the four leading contenders will be on stage together.

She follows rival Bernie Sanders, a fellow senator and rival for the Democratic nomination, who pushed for an expansion of Social Security benefits during his unsuccessful 2016 presidential campaign. Legislation by Sanders to expand Social Security has been cosponsored by 2020 contenders Kamala Harris and Cory Booker.Bloomberg

With Warren gaining ground on former Vice President Joe Biden, we may end up watching her explain this ambitious redistribution plan while debating President Trump.

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Stucky

“Elizabeth Warren unveiled a plan Thursday which would bump Social Security benefits by $200 per month, …”

Well, folks, EW just got my vote!!

Why not? We ALL vote for OUR OWN best interests. And since I’m of SS age (although not yet collecting) I’ll vote for her.

Fuck you if you don’t like it. What’s Trump ever done for ME?? Nuffin! However, if Mr. Orange Man bumps up social security by $300 … then I’ll vote for him. Call me a ‘whore’ if you want, as if I give a rat’s ass.

CAUCOKEE BOOMERS for WARREN!!!!!!!!!!

Vote Harder
Vote Harder

You be a ho !

pyrrhus
pyrrhus

I’m all for the plan, but think she’s lying….

Llpoh
Llpoh

So, when inflation drives everyone into the higher bracket, yu will be all for it. And you think it fair that they pay in, but will get no benefit from it?

The eternal chant re SS is “but I paid in, I deserve mine!” Save for those other folks, fuck them, they have to pay mine too.

The stupid, it burns.

Anonymous
Anonymous

comment image

Miles Long
Miles Long

That might partly make up for the 8 Obama years when we got no COL raises. No inflation my ass. We have gotten raises since Trump took office.

Hos are us.

White Wolf
White Wolf

I ran a small business for 40 years. I paid the 15.2% payroll tax, half out of my pocket, half from my employees. Throughout that time frame our “defense” budget was wasting so much money that on 9/10/01 Rumsfeld announced a 2.3 or something trillion $ unaccountability. A day later the office in the 5-sided bldg. studying the shortfall, was obliterated. Just think what a few trillion here or there would do to keep our citizens alive and well in their final years. Years ago one of my fundamentalistic Christian neighbors told me “We are living in the end times”. I thought, yeah right. Now….

WestcoastDeplorable
WestcoastDeplorable

The missing money amount is now $21 Trillion. Our country in real terms, is finished.

credit
credit

Simple vote bribery.

Fast Floyd

This is a woman that was caught in a lie and when outed nationally with unimpeachable evidence, persisted in saying the lie was true for months and months. This woman by any objective measure is mentally unstable and if elected POTUS will usher in a reign of madness unlike anything seen in the last three centuries.

22winmag - Guns now, due process later DJT 2-28-19

Chancellor Warren-Merkel will throw the proverbial lever on the proverbial ovens

to bake Whitey alive for his Federally-enforced ERPO violations.

Fuh-Q
Fuh-Q

Since it is now indisputable that there are two sets of laws in the USA, what makes Warren, or anyone else for that matter, think self-employed people will report anything close to their actual wampum ever again?

Mygirl...maybe

This self-employed person is thrilled with the prospect of getting hammered for even MORE taxes. I pay the full boat SS payroll anyways and when I think about all the good uses that tax money is going to, why I’m tempted to give all my income to the government. I don’t need it since the government is going to take care of all my needs anyways. I’ll go on the dole and live better than I do now…../s

WestcoastDeplorable
WestcoastDeplorable

C’mon you know you love it! /sarc

Iska Waran
Iska Waran

This is a move to become more like Europe. A lot of people think we should be more like Europe. People are skinnier there, although the men look like Pee Wee Herman when they cram into those too-small suits and the women have hairy legs and armpits.

Since this viewpoint is on the rise, young Americans should live their lives accordingly: Buy a small house in a suburb with a “good” school district – outside of the claws of the extreme socialists who run the core cities. If you have kids, send them to public schools. If you can get a salaried job with a pension from a government entity that isn’t on the cusp of bankruptcy, consider doing that as a job. If you can stand the actual work, being a public school teacher is perfect: You get summers off. You don’t have to save any money. When you’re filling out FAFSA for your kids’ college education, you look relatively poor and devoid of assets, so they’ll get financial aid. Right after your kids are done with college, you retire and get a fucking nice pension – unlike almost anyone else in American society.

Of course, I don’t know who’s going to pay the taxes to run the schools because no one in their right mind would ever risk everything they have to open a business if this stupid cunt Elizabeth Warren gets her way with this – the biggest tax increase in American history. This is on top of her plan to raise overall income tax rates AND to institute a separate “wealth tax” to re-tax assets that were already taxed when the money was earned.

yah sure
yah sure

what she says has some political merit. How many people want to soak the rich? All the east coast politicians have a tax people problem.

Anonymous
Anonymous

since our only hopes are, trump waiting until the last minute to burn these traitors down or without purging the traitors and reelection, and a democrat being elected, think I will have to vote for her too, hopefully it will be the end of the republic, the nanny state, and the mic all in one,

MrLiberty
MrLiberty

“split evenly between employers and employees” – I always love this bullshit line. EVERY penny an employer must pay out for the employee, is ultimately money that could go to the employee directly. That “50% of the tax” could just as easily be part of an employee’s paycheck, for THEM to spend, save, etc. as THEY see fit, not the government scum. Its like the lie that government taxes corporations. Bullshit. ONLY individuals pay taxes. It either comes in the form of lower wages, lower dividends, lower stock prices, or higher costs to the consumer. No two ways about it.

Government is just going to screw us more under this bitch. No shock there.

Llpoh
Llpoh

One thing about taxes, they NEVER do not spread.

When income tax first came out, it was like 2% or something.

The morons who vote for this shit deserve everything they are going to get. It will NEVER remain just in the high income earners. It will spread, it will grow in percentage. It always happens. Always.

Mygirl...Maybe
Mygirl...Maybe

Yup. Kinda like the old jokes about ‘I’ll only put the tip in’ and ‘Gosh, it’s only a cold sore’ and so on. Thing about that income tax was that it was supposed to be temporary too.

Bull G. Wood (EC)
Bull G. Wood (EC)

Did you fall for those lines, MyG? We wont tell.

Mygirl...maybe

We? Damn, I thought I could trust you.

ILuvCO2
ILuvCO2
WestcoastDeplorable
WestcoastDeplorable

I hope this makes Trump put survival for seniors in his campaign. SS benefits must urgently be reset to follow inflation. $200 monthly would be a step in the right direction. You can’t live on social security as it stands.

Llpoh
Llpoh

SS is welfare for the most part. The money has been spent, not saved or invested. Spent. Hence, I am all for it being eliminated. I oppose mandatory contribution to welfare, which is pure and simply theft. And harsh as it may sound, allowing any form of mandatory contribution means that it will forever increase. You can see it everywhere – SS, SSDI, food stamps, medicare, farm subsidies, etc. It all needs to be ended. All of it.

The proper place for welfare is private donations. People also need to be responsible for their own selves. I feel zero obligation toward all the grasshoppers that failed to provide for themselves. Not my fault nor my responsibility to fix it.

Donkey
Donkey

The largest welfare group in the country are public sector employees of every Stripe. This includes any company whose revenue comes from Pappa gobbamint.

BL
BL

Donkey- Wrong! It’s corporations who make billions of $$ and get every break and handout Uncle Sugar can muster for them. Bank bailouts were not too shabby either, now how much did that total again??

Iska Waran
Iska Waran

If Warren wins the presidency, I’m sneaking into Mexico.

Mygirl...maybe

i’ll be right behind you. We can apply for asylum together.

Anonymous
Anonymous

This proposal will be a boon to low tax Red States.

Red States could afford to reduce taxes with all the big money that would accrue to them.

TampaRed

you guys are a bunch of greedy negative nellies–
seriously,her hypocrisy is astounding–
not only did she lie about her injun background,she is directly descended from the indian fighter 4 whom ft lauderdale is named–

https://www.breitbart.com/politics/2019/09/12/elizabeth-warren-a-direct-descendant-of-militia-indian-fighter-who-fought-seminole-tribe/?utm_source=newsletter&utm_medium=email&utm_term=daily&utm_campaign=20190912&utm_content=Final

Curtis Bartley Jr
Curtis Bartley Jr

She’s a dam drunk and a liar.

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