Cut Social Security AND increase taxes on the poor and middle class

In my last post, I forgot about this:

But here’s who wouldn’t be protected: Seniors younger than age 76, veterans  who get compensation for war-related injuries, and some low-income families who  receive the Earned Income Tax Credit. The proposal also wouldn’t stop people  from rising into higher tax brackets more quickly, since the tax brackets won’t  get as much of an adjustment for inflation.

After all, the proposal is supposed to save $230 billion over 10 years – including $100 billion in new tax revenues – and that money has to come from  somewhere.

There are some protections, but that just means the cuts to Social Security would be smaller for some people. And this is in a time where retirement is shakier than it has been in the past. We should be expanding Social Security, not cutting it. This is also really bad politics, Republicans are already using it against Obama.

 

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