Republicans scowled at Biden when he pledged to reject changes to Social Security to stave off insolvency (which hits in 2033, according to the trustees) beyond raising payroll taxes. Lord knows why. That is their presidential nominee’s position as well.
Social Security, on average, redistributes wealth up the income scale. Younger people are paying into the system, and seniors are withdrawing from it. Seniors have higher average incomes than younger people. And seniors get back much more than they ever contributed. It’s a wealth transfer from the relatively poor to the relatively rich, and from the young to the old.
Oh, thank God we have a president willing to go after Big Snacks.
Teachers pay next to nothing in taxes. There’s literally a line item that advantages teachers who spend money on classroom supplies. Their salaries are decent and their benefits are excellent due to the public’s largesse.
-Husband of a public-school teacher who prepares the family’s taxes
Biden just went directly after Nikki Haley’s platform.
If the federal government outright confiscated all wealth from all U.S. billionaires, it would raise about $5 trillion. That would cover federal spending for about 10 months.
So Biden wants corporations to educate their own workforces, create more jobs, invest more in the U.S. — and he wants to raise their taxes?
Biden demanding called responses from Democrats precisely because Republicans haven’t been playing the game.
Biden is doing call and response now. And it’s working. Democrats seem genuinely jazzed just to hear Biden deliver a modestly engaging campaigns speech in primetime.
“Such relief is good for the economy because folks are now able to buy a home, start a business, even start a family”
If only it were true. America sees declining family formation declining business starts, and decreased mobility overall.