“Scrapping the cap” would not keep Social Security solvent, let alone allow it to expand benefits, it’s a dishonest ploy.
▪️Social Security faces a huge projected shortfall by the 2040s of 6% of GDP. The CBO estimates scrapping the cap wouldn’t even make up 1% of GDP, nowhere close to what Bernie claims here.
▪️In order to make up for the future SS shortfall, major tax hikes are needed. To make up 6% of GDP, it would take instituting a 20% VAT (national sales tax) AND raising income taxes across the board by 10%. No politician wants to propose this and admit what it would actually take.
▪️Also, the reason there is a cap for SS is because the program was ostensibly sold as a sort of pension. You pay into the program while you’re working and then get that money back when you retire. Removing the cap is an admission that it’s really just a welfare program.
🔹Chart showing how much different tax hikes, including scrapping the cap, would reduce the SS shortfall posted in the comments.
It’s just so wild to see these movements see saw, it feels like just yesterday that conservatives were boycotting Disney and the left was gloating.
Just incredible. After posting a meme blaming Charlie Kirk for his own murder, they post another a few hours later applauding Democrats for their civility.
Also, if you look at the Occupy Democrats timeline, their posts “denouncing political violence” were variations on “no one should be shot…BUT here’s a quote from Kirk showing he’s a terrible person.” Or sometimes they’d leave the first part out altogether and just attack him. There are no posts denouncing violence without qualifiers trying to gin up their base.
