Friday Nite Videos -- May 8, 2015
Portside
Igor Volsky shows how different proposals to alter Social Security would impact the program. Lower income seniors would bear the brunt of proposed cuts, or gain most from proposed improvements.
Social Security surfaced in the very first days of the campaign, thanks to New Jersey Governor Chris Christie going after the program with the zeal of a born huckster, demanding to raise the retirement age. In 2010 equivocation and deficit-reduction obsession from President Obama squandered Democrats' good will on the subject. But this year anything less than an embrace of expansion this time is likely to leave the base unsatisfied.
Senator Bernie Sanders proposes raising the percentage of income subject to the payroll tax. “You can start at $250,000,” he says, “and what the Social Security Administration has told us, their actuary has told us, is that if you do that, you’re going to make Social Security solvent for the next 40 years on top of the 18 years it’s solvent. “
Reader Comments - Boehner, Netanyahu, Israel and Iran; Labor in the 21st Century; Public School Poverty; Billie Holiday; Pete Seeger; The New Europe - SYRIZA and Podemos; 'American Sniper'; Social Security; Agent Orange; Ukraine; Martin Luther - Militant Radical for Our Times; more...
Resource: Energy Democracy in Greece;
Announcements (New York)- Sri Lanka Killing Fields documentary; Anniversary of Malcolm X Assassination
Reader Comments- Jobs and Higher Wages; Boehner, Netanyahu, Israel, Iran; Martin Luter King - radical anti-capitalist; Charlie Hebdo - racism, nationalism, free speech; Broken Criminal Justice system; Social Security, Disability; Erosion of Collective Bargaining = Income Inequality; Podemos; Solidarity Forever; Selma; Guantanamo protest; Roe v. Wade Anniversary;
Announcements- Forums- Ending the Embargo of Cuba; After The Greek Elections; March Delegation to Venezuela
A new House rule creates a legal obstacle course that would make it harder to shift funds from the Social Security retirement account, which has a big surplus, to the smaller disability account. Such transfers have been done routinely in the past under both Republican and Democratic presidencies, including four times under President Ronald Reagan.
Congressional Progressive Caucus urged members to reject the so-called Cromnibus if a provision which helps big banks trade derivatives in units backstopped by a government guarantee remained in the spending measure. This kind of activity was a cause of the 2008 crisis - it a giveaway to wealthy campaign donors and Wall Street banks. Analysis for more information about key takeaways from the proposed spending bill, as well as a few controversial surprises.
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