Hey, as long as we're raising taxes, let's not forget the social security payroll tax

Boston Globe said Biden should stick to his promise to increase the levy

A Boston Globe editorial points out a “glaring omission” in President Joe Biden’s mega-trillion spending/taxing plan: His campaign promise to raise the social security tax.

There’s no need to look far for supporters of raising the Social Security tax. Biden himself campaigned on a plan that would raise $740 billion over a 10-year period. So as the president and his Democratic colleagues in Congress look to pass the first major tax hike in nearly three decades, they ought to include a plan not only to keep the Social Security fund solvent but also to reduce poverty among older Americans. Failing to do so would be a missed opportunity, one that Democrats might later come to regret given Republicans’ repeated efforts to cut Social Security benefits

The plan would increase benefits for needy seniors and so forth. Never mind that the tax is regressive and would hit middle class wage earners the hardest.

If I recall correctly (and I’m sure I’ll be corrected), making the Social Security fund solvent historically has been a Republican item. Now that Democrats are on board, it’ll be interesting to see if Republicans now will support it.

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  • They should also be sure to include a closure of that "fat cat" loophole that allowed China Joe BribeMe and his wife to dodge $500K in his beloved ObamaCare tax

    And isn't elimination of the SALT deduction cap a benefit to all those "fat cats" in Blue cities and states who have big homes and have to pay high state taxes? Doesn't that just shunt part of the cost of their abhorrently high confiscatory city and state taxes to other taxpayers?? In fact a recent review showed that eliminating that cap would allow billions of dollars to be weaseled out of by BribeMe's targeted over $400K crowd

  • Joe DID say, how does Amazon pay ZERO in taxes. Will he follow through going after Big Techand Amazon? You're right, see what they do with the SALT cap, Nancy is dying to eliminate that for her wealthy backers.

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