Miss America doesn't sound very progressive...
Posted on 05/14/2005 7:26:00 AM PDT by Libloather
Democrat to Offer Social Security Plan
By GLEN JOHNSON, Associated Press Writer
42 minutes ago
WASHINGTON - Breaking with party leaders, a Democratic congressman plans to introduce Social Security legislation, saying his first commitment is to his constituents.
Rep. Robert Wexler, D-Fla., said Friday: "I have the largest amount of Social Security recipients of any Democrat anywhere in the country. My allegiance to seniors is greater than my allegiance to the Democratic Party."
While Wexler is proposing tax increases that would clash with President Bush's pledge not to expand the existing payroll tax, his legislation was heralded by the White House in part because Democrats had steadfastly refused to offer an alternative to Bush's plan. The president's proposal calls for creating private investment accounts and a new method for calculating future benefit growth.
Democrats have refused to put an alternative on the table until Bush drops his insistence on private accounts, which they say would destroy the Depression-era system by depriving it of critical funding.
"I would be surprised if the president were anything but pleased there is another voice with the courage to stand up and put a proposal on the table," said White House spokesman Trent Duffy. "Obviously we haven't seen the specifics on this plan, but I think the president welcomes anyone who wants to work in a good-faith effort to solve the serious challenges facing Social Security."
Wexler's bill calls for a 6 percent tax on all income above the current $90,000 cap. Three percent would be paid by workers and 3 percent paid by their employer.
At the same time, the bill would reinstitute "pay-go" rules for federal budgeting, requiring that any tax cuts or increase in entitlement spending be paid for either by raising taxes or cutting spending elsewhere. The requirement expired at the end of 2002.
Wexler's proposal, which he will unveil in Florida on Monday, would not require any cut in scheduled benefits or increase in the retirement age, and it does not provide for private accounts.
"The president's approach cuts benefits and it creates a privatization scheme, and on top of that does not ensure the solvency of Social Security," said Wexler, whose district includes the largest number of Social Security beneficiaries of any Democrat in the country.
The congressman said his bill, which has been reviewed by the Congressional Budget Office, would achieve solvency by eliminating the $2.1 billion program shortfall estimated by the nonpartisan agency. Social Security's trustees have pegged the figured at $3.9 billion.
"The president traveled the country for the past two months and effectively challenged the Democrats to make their own plan," Wexler said. "Today, that challenge is responded to."
House Minority Leader Nancy Pelosi, D-Calif., recently quashed a meeting in which some of her fellow Democrats were set to discuss Social Security with the head of the AARP and a group of Republicans.
Wexler said he had twice spoken with Pelosi about his plan. While he would not reveal her reaction, he said, "It would be wrong to assume it was a receptive conversation."
Jennifer Crider, a Pelosi spokeswoman, said: "There are Democrats with a lot of different ideas. This is one member's take, but it is not the Democratic plan."
Miss America doesn't sound very progressive...
Let me see if I can sum up their lone alternative plan: "All your earnings are belong to us!"
Dear Congressman,
F.O.
with greatest sincerity,
theDentist
Increasing current revenue for SS does nothing to save the system latter. All it does is increase the amount of IOU's in the bogus "trust fund" making the crisis worse, not better in the future. Sheer idiocy.
"Wexler's bill calls for a 6 percent tax on all income above the current $90,000 cap. Three percent would be paid by workers and 3 percent paid by their employer."
Okay, being a Civil Servant I'm not in the Social Security pool, so answer me this:
Is $90,000 also the cap for benefit calculations or just the tax? When Bill Gates retires is he going to get a SS check reflecting his multi-million annual salary or one for just the $90k he paid the tax on?
I might be for lifting the cap if there's no cap on payout.
(And as a Civil Servant there is no cap on what they take out for my retirement.)
Congrats to Senator Wexler. He pretty much said what the party wanted to say in the first place but are too obstructionist to say it.
Bush should have a press conference praising this guy. It does two things. It shows that there are Democrat politicians willing to discuss this as Bush has asked and it shows that a tax and spend liberal will always be a tax and spend liberal.
>>>>>>Breaking with party leaders, a Democratic congressman plans to introduce Social Security legislation, saying his first commitment is to his constituents.<<<<<<<
I dont understand , he is advocating raising taxes . How is that a break from party leaders? Thats been the Democrat answer to every problem.
I am for raising the cap under two conditions.
1. A portion of that cap can go to my personal retirement account.
2. And whatever percentage they are taxing me over the cap I can double what I put into my personal retirement account.
So if they decide to tax 6% over 90k, I get to put 12% pretax into my personal retirement account, not to be taxed when I retire. It is free money in exchange for paying the 6%. basicaly the government is paying you a 6% fee and the tax free interest in exchange for bailing out the ponzi scheme.
Sort of suprised there isn't a real challenge to this fruitcake. He stomps on business folk and working folk too. Only thing he has going for him are retired little old blue hairs in Palm Beach and Boca Raton.
But at least Boca is like a different planet.
by Me
Let people opt out of the Social Security program. In exchange for not paying into this ponzi scheme, you will forfeit all money that you've put into the system and you won't be able to collect any Social Security when you retire
Sign me up
We should all have the congresscritters plans available to us including medical care...RIGHT? Wonder what THAT would cost?
Medical Plan - wise it might make them compete harder if people had an Open Season every year to switch if they wanted to.
I still wanna know if a person's monthly SS benefit is based upon just the $90k they pay tax on or whatever they really make (if it's more) ?
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