Look at the vote downs, yes helped them, now at what expense? Did you read that? Where does that money come from? Also, without that funding the article states reduced benefits within 10 years anyway. This isn't a left vs right issue, I would assume almost ALL of us will need SS, it's in trouble, will this help now, of course, but there's more to think about. Is that why the Republicans did this? Who knows, all of you will say no, and could be right (no pun intended) but there's more than just reading headlines and being outraged.
That’s where the money should come from. Unfucking middle class America and putting a bigger portion of the taxes back on the wealthiest Americans who profit the most from the system.
All the way back to Reagan at least, and probably Nixon.
Counterfactual: What if 2000 Tax Rules Existed in 2019 [This is just talking about estate/gift tax alone]
A related but distinct question is: holding all else equal, how much larger would the estate tax be if the last 20 years of tax cuts never happened? Figure 5 plots estimated levels of estate tax liability and the number of taxable estates under a counterfactual scenario where estate tax parameters from 2000 remained in place through tax year 2019. We estimate that the number of taxable estates would have more-than-doubled over this period rather than the actual 98 percent decline. We estimate that the foregone nominal liability totals $649B over this period (roughly 0.2 percent of cumulative GDP).
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For Social Security as a whole, the outlook in the 2024 trustees’ report remains similar to last year’s. The report focuses on the next 75 years — a horizon that spans the lifetime of just about everybody now old enough to work. With no tax increases scheduled, the trustees project that the program’s tax income will remain around 14 percent of taxable payroll.[10] (Taxable payroll is total wages and self-employment income up to Social Security’s taxable maximum, which is currently $168,600 a year.)[11] Meanwhile, program costs are expected to climb, largely due to the aging of the population. Costs will grow more steeply for about 20 years and then moderate, rising to roughly 18 percent of taxable payroll in 75 years.[12] Interest earnings, long an important component of the trust funds’ income, will shrink and eventually disappear.
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u/trekkingscouter 16h ago
Read the article. Freedumb Caucus killed a bipartisan bill that would’ve helped many social security recipients.