Republicans are so hell-bent on protecting the wealthiest Americans, even if it means raising taxes on the middle class, that they’re now looking to cut Social Security benefits just to protect millionaires and billionaires. That’s worth repeating: Republicans who have shown they’ll do anything to protect the wealthy, even if it means raising middle-class taxes, are now eyeing Social Security cuts in order to pay for a middle class tax cut that could give families an additional $1,500 in their bank accounts every year.
Today, House Republicans introduced a plan that allows workers to continue receiving the benefits of the middle-class payroll tax cut as long as they agree to delay their Social Security benefits for every month they receive the tax cut. The plan, as a result, cuts the total amount of Social Security benefits a beneficiary would receive over his or her lifetime. It’s just the latest from Washington Republicans who are doing everything in their power to protect the wealthiest Americans, even if it means raising taxes on the middle class or destroying a social safety net on which seniors depend.
“We already knew that Republicans were going to do whatever they could to protect millionaires but this new proposal takes the cake,” said Matt Canter, spokesman for the Democratic Senatorial Campaign Committee. “Only Republicans in Washington – the same folks who tried to end Medicare in order to protect Big Oil – would think it’s a good idea to cut Social Security in order to protect millionaires. Their endless, undying devotion to millionaires and billionaires is going to be an enormous vulnerability next year.”
Today, three House Republicans offered a bill to allow taxpayers to continue the 2 percent payroll tax cut next year only by delaying the receipt of their Social Security benefits by one month. Taxpayers could continue to make this arrangement each year, adding another month’s delay for Social Security each time. [The Hill, 12/06/11; H.R. 3551]
Democrats’ bill protects Social Security benefits by mandating that Social Security should be made whole by transferring the amount that the program has lost due to the pay roll tax cut from the general treasury. [S.1917]