Sen. Bernie Sanders (I-Vt.) said Saturday that one of his top priorities, once he takes control of the chamber’s Social Security Subcommittee in January, will be to lift the cap on taxable income that funds the program and increase benefit payments by at least $2400 per year.
Honestly $200 extra a month might help ease the burden on our loved ones, that’s only two weeks of groceries for a lot of households right now. Just a personal example, the entirety of my grandmother’s benefits goes to her housing (high cola). My uncle pays her medical bills, and he’s the only one who has any money to spare. My sibling buys her groceries. I buy her clothing and other necessities as I can, but I’m essentially in the same financial situation she is. The rest of her family is dead, and in 3-5 years she may only have my sibling left to help her.
So, yes, Bernie might be slapping a bandaid on this elderly poverty problem with a possibly easy win, but it’s a starting point for further taxing the billionaires. And if we’re lucky the momentum from that will also fix education, medical access, housing, and the rest of what we know we need as a healthy society
It’s not really taxing billionaires since SS taxes income on labor, but I agree, it’s necessary to do, along with a long list of other things that need more involved legislative scaffolding.