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View Diary: Barney Frank: Save Social Security by making the near rich pay a little more (146 comments)

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  •  Let Me Just Dissuade You for a Moment (0+ / 0-)

    At the risk of being painfully self-referential, I just covered this topic here, where I list four ways to make Social Security healthy without raising the cap.

    And, do you really want a bunch of rich people to be part of the program?

    Let's fight the progressive tax battle on the income tax. There are really excellent arguments that we should increase the top rates by far more than we have. For one thing, the top 1% of households have the bulk of the assets. Shouldn't they be paying for the bulk of the cost of the government?

    And, in any case, this proposal is all about taxes. The problem is the lack of jobs, the lack of good jobs, and the lack of money that comes from holding a job. We have an income problem, and that problem comes from our poor trade policy. Let's cut to the chase and work on that.

    So, soon-to-be-Senator Frank, let's cool it here on this and focus on something that's a problem. Right now, workers are making half what they should be making. What's your plan for increasing their income?

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