Joe Biden Has Called for Social Security Cuts 3 Times

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    • #243491
      leftcoast mountains
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      • Total Posts: 4,292

      May 17, 2019

      Sean Williams

      Surprise! Presidential candidate Joe Biden has previously put Social Security cuts on the table

      Yet, what you might find surprising is that early Democratic presidential front-runner Joe Biden, who you’d expect to fight for core Democratic principles in resolving Social Security’s imminent cash crunch, including raising or eliminating the earnings cap, has called for Social Security cuts on three separate occasions over the past 12 years.

      1. Raising the full retirement age

      For those of you who may not recall, this isn’t Joe Biden’s first go-around as a presidential hopeful for the Democratic ticket. Prior to Barack Obama winning the Democratic nomination in 2008, Biden was one of Obama’s competitors for that nomination. Of the many proposals Biden brought to the table in 2007, arguably none was viewed with greater scrutiny than his ideas on buoying retirement savings plans, including Social Security.

      While not focusing strictly on cutting benefits, Biden’s noted approach, according to NBC News, was to work on a bipartisan solution that would include discussing options such as raising the full retirement age and increasing the earnings cap associated with the payroll tax.

      2. Orchestrating a $112 billion payroll-tax holiday

      Although it was a cut that beneficiaries wouldn’t tangibly see in their benefit checks, Biden was a key figure behind $112 billion worth of Social Security cuts during the early part of this decade.

      3. Means-testing for benefits

      Lastly, as recently as May 2018, Biden has argued for the idea of means-testing for both Social Security and Medicare benefits, which is actually something that President Trump casually suggested while on the campaign trail for the presidency.

      https://www.fool.com/retirement/2019/05/17/joe-biden-has-called-for-social-security-cuts-3-ti.aspx

       

      For those who think voting for Joe is better than Trump.

      vote for nobody

    • #243504
      MistaP
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      • Total Posts: 2,609

      someone oughtta tell is “most informed and engaged” supporters …

    • #243508
      Charles
      Participant
      • Total Posts: 1,595

      Everyone knows Joe sucks.

      That doesn’t make Trump better than him.

      So if you’re suggesting I should vote for Trump if Joe’s the nominee I’ll stick with Bernie’s endorsement thank you…

       

      Bernie: "Not Me. Us"

    • #243566
      HassleCat
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      • Total Posts: 3,506

      I believe Joe Biden would facilitate selling off the system to private investors, at least in part, if not entirely. Since the 1980s, investors have damn near wet themselves thinking about all that taxpayer money that could be pumped and dumped into their portfolios. What they would propose is something that sounds “reasonable,” such as an option that would allow the individual to divert a portion of her SS deductions into a privatized system that would promise higher returns, with some risk of losses, of course. The whole thing would be presented as bulletproof, backed by the government, nothing to worry about, blah, blah, blah. It would eventually implode, of course, and require a huge bailout, just like the mortgage crisis, and the S&L crisis before that. I fact, that’s the only real reason to propose such a scheme in the first place, to create a bubble, rescue the criminals who create the bubble, and make sure nobody goes to jail. We have seen this before, but politicians like Joe Electable Biden will sell it to us again. If we vote for them, that is. So let’s not.

    • #243567
      sadoldgirl
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      • Total Posts: 812

      Well, of course he would try to sell us out. He has done so

      before. He does not need it after he collected enough from

      his Ukraine stunt.

    • #243568
      mmonk
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      • Total Posts: 846

      Yep. Cold day in you know where before I’ll vote for him.

      Fear not the path of Truth for the lack of People walking on it. - RFK

    • #243600
      djean111
      Participant
      • Total Posts: 4,077

      I see the old “If you do not vote for the Vichy Dem,  you are voting for Trump” bullshit canard is being trotted out already.  And the “Bernie says….” crap.   Nope.  Nope.  I kinda thought that was all the DNC really has.

    • #243643
      snot
      Participant
      • Total Posts: 892

      K&R’d!  Helpful reminder.

      Destruction is easy; creation is hard, but more interesting.

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