Politico reports that Elizabeth Warren has a progressive Social Security plan and is staking out new progressive territory with it. She will expand the nearly-bankrupt program to almost everyone who isn’t a white successful male.
The Massachusetts senator pledged to increase current and future Social Security benefits by $200 a month and change rules to expand access to the program for a range of vulnerable groups, including low-income families, widows, and caretakers.
To pay for it, she will increase payroll taxes and establish new investment taxes on the highest-earning Americans.
That’s what they all say until they run out of their money and stick the rest of us with the taxes.
Her giveaway goes beyond communist Bernie’s and medically-troubled Biden’s proposals.
“This is about challenging Biden and making a play for the senior vote,” said one person outside the Warren campaign, but with direct knowledge of the Social Security proposal.
Despite increasing benefits, Warren’s proposal would keep the program solvent through 2054, according to an analysis by Moody’s Analytics’ Mark Zandi. Under its current status, Social Security is expected to run out of funds in 2035, according to the Social Security Trustees report released in 2019, a timetable that could force benefits to be reduced.
That will only hold true if the highest-paid wage earners don’t find ways to hide their money. They always do or they leave the country or their money leaves the country.
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Don’t forget, she has a long list of freebies and already plans a wealth tax similar to the one Hugo Chavez inflicted before he destroyed his oil-rich nation.
“Unless we act now, future retirees are going to be in even worse shape than the current ones,” Warren wrote in a Medium post, released Thursday morning. “We need to get our priorities straight. We should be increasing Social Security benefits and asking the richest Americans to contribute their fair share to the program.”
She is willing to steal money from anyone to make social security into a full-fledged retirement/salary/welfare program for her favored groups. This is communism and it will destroy the nation.
