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View Diary: Boehner rejects Obama offer to extend some Bush tax cuts for wealthy while cutting Social Security (317 comments)

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  •  A good overview of Chained CPI (0+ / 0-)

    Not only would it cut SS benefits but it's also a sneaky, regressive tax increase on low earners and the middle class.

    Link

    All told, chained CPI raises average taxes by about 0.19 percent of income. So, taken all together, it’s basically a big (5 percent over 12 years; more, if you take a longer view) across-the-board cut in Social Security benefits paired with a 0.19 percent income surtax. You don’t hear a lot of politicians calling for the drastic slashing of Social Security benefits and an across-the-board tax increase that disproportionately hits low earners. But that’s what they’re sneakily doing when they talk about chained CPI.

    you don't need a weatherman to know which way the wind blows

    by Dem Beans on Tue Dec 18, 2012 at 08:33:43 AM PST

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