My god if I had one million dollars for every time I heard a politician argue that Social Security benefits are imperiled because of the fact its beneficiaries receive yearly cost-of-living increases. Recipients receive an increase in benefits determined by the Consumer Price Index. …Which means that a person’s benefits remain, in truth, the same over the years.
There’s talk of pegging this increase to a different standard, like the Republican-Boot-Up-the-Ass or “GOP Stinkbug.”
Instead, the minimum wage, the payroll tax, and all earned wages should be federally mandated to increase according the CPI yearly.
THAT’S A LOT OF MONEY! Yes, it sure is. And who has a lot of money? People with a lot of money! We pay for this, plus a national Disney Vacation, by returning tax rates to where they were pre-Ronald Reagan. That is, we return them to what they were the last time the middle class saw an increase in real wages; to when earned income was taxed less than unearned income (ie, labor vs investment); to when the vast majority of Americans payed less in taxes as a percentage of income than the porcine majority.
THAT’S A JOB-KILLER! No. It is not.
…Grr! Fine, a little exposition: Since the payroll tax will increase for everyone, as will wages, both public and private, it will all even out. Specifically, yes: It will cost more to start business or hire an employee in the short-term. However, in the long-term these increases will be absorbed by the macro-economy and the level playing field created by the proposals would have an incredibly positive effect.
Finally, John Boehner should be slapped by a reasonably strong person, with all the strength that person can bring to bear.