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David Hughes's avatar

Medicare tax already has no income cap, and that model is what should be done for FICA. Cutting benefits would end up costing the government in other ways, and means testing is simply unfair and pulling the rug. First, eliminate the cap, then consider increasing eligibility to 65 rather than 62, leaving a rate hike for all as last resort.

Hootsbuddy's avatar

I've been waiting for this morning's Regular Order. I have not yet read Jamie's report but Heather Cox Richardson's Letter from an American is a must-read summation of the corruption of this administration.

--> Congress passed federal securities laws and banking regulation in the 1930s after it became clear that a small group of wealthy investors had manipulated the markets and misused bank funds. Pressure to clean up Wall Street came from entrepreneurs and small investors, who knew they could not do business or make gains in the market if the system was rigged against them. A healthy economy depended on a level playing field for everyone.

Now, it appears, we are watching the dismantling of those protections and not only the long-term skewing of our system toward the very wealthy, but also a dramatic skewing in real time. On Saturday, Trump began selling access to his social media posts to Wall Street trading firms milliseconds before they go public, permitting them to buy and sell with insider information. The cost for this service, according to Marina Dunbar of The Guardian, is up to $100,000 a month.

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