Approaching The Cliff
The CW is that there will be a deal on taxes, spending, and entitlements. If there is going to be a deal both sides will need to contribute something to the deal.
One part of a deal would be to structure increases in social security payments in a manner that would favor lower income recipients more than upper income folks. Medicare taxes which will need to increase if we are to avoid a default on this program and it would be helpful if the taxes were more progressive, rather than the 2.9% of wages. Everybody would be wise to address this issue sooner rather than later. I'm of the opinion that there are not enough rich folks to pay the bills we are all running up for services we want.
If that means that more than just the top 2% pay more, receive less, and wasteful programs are cut, let's get on with it.
One part of a deal would be to structure increases in social security payments in a manner that would favor lower income recipients more than upper income folks. Medicare taxes which will need to increase if we are to avoid a default on this program and it would be helpful if the taxes were more progressive, rather than the 2.9% of wages. Everybody would be wise to address this issue sooner rather than later. I'm of the opinion that there are not enough rich folks to pay the bills we are all running up for services we want.
If that means that more than just the top 2% pay more, receive less, and wasteful programs are cut, let's get on with it.
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