I'm with Barack on this one. Lifting the max may be just the type of minor adjustment needed to ensure the long term survival of one of this nation's best and most well funded programs. In fact, I wonder if we could lift the cap and lower the rate a tad, thus giving a tax cut to those making under $102K/yr.

As an aside, for the contingent that believes the propaganda that Social Security is bankrupt, please ask yourselves how many other institutions that hold 2 trillion dollars in treasuries you consider to be bankrupt? That's a pretty fair sized asset in a the safest U.S. investment there is. The real risk to it would be default by the Federal Government, which if it is defaulting, is going to leave us much bigger problems than funding social security.

Just so it's clearly pointed out, Clinton didn't say seven years, or at least that's what I take from this entry. By that logic, why not say it's a 100 trillion tax increase? Just don't mention it might take 70 years. What a Republican tactic. Maybe if she had another idea, but all she offers is yet another commission.

Senator Clinton is a pawn of the capitalist bloodsucking class. Senator Obama is for the working people, not the elites like Senator Clinton. A vote for Clinton is a vote for the same puppet masters that have Bush.

The chart shows the the results if the cap is eliminated. It is my understanding that Obama proposes lifting the cap but not eliminating it. How much of a tax increase it would be is dependent on how high the cap is lifted.

Social Security is not facing an imminent crisis. In fact, the solvency "crisis" date (currently 2042), is always being updated with new research from the SSA, and is usually pushed back further into the future as time goes on. The facts of the SSA projections have been widely reported at least in the economic and alternative press - look it up. Sadly, don't expect Clinton or Obama etc to acknowledge this publicly, even if they're aware of it. That's how successful right-wing propaganda has been on this issue, at least in terms of framing the debate.

Of course, it may make sense to adjust the SS cap/benefits down the road, as has been done before without the world ending. But eliminating the cap entirely may be a mistake politically, even if there's some logic to doing that. Shifting a high percentage of costs to the wealthy will go down the slippery slope of turning SS effectively into a welfare program, which could unfortunately hasten its demise. If FDR had originally signed off on a program without caps, we may not have had SS today.

Andy, On the contrary, I heard Obama state the date of 2040 on two occasions that I heard him talk in person and give that as the approximate date of a "crisis". He explained that social security would not then end but the benefits would be reduced if nothing was done. Again, I do not think he proposes eliminating the cap. He just thinks the wealthy in this country should help the poor. I realize that the rich helping the poor is considered welfare by many.

Barack Obama's basic position is explained at www.barakobama.com/pdf/retirementFactSheet.pdf
He does not say there what he would raise the cap to but I believe I remember him agreeing with a questioner that it would be to about $225,000. Personally, I think this is quite reasonable.

Bruce,

Your link doesn't take me directly to the fact sheet-- does he say "raise" or "lift"? That's important-- in this sort of context, I've never seen "lift" mean "raise;" it generally means "remove."

From Dictionary.com "3. to remove or rescind by an official act, as a ban, curfew, or tax: a court decision to lift the ban on strikes by teachers."

canim sagolbe

Mary Lu, I am with you on this one. This makes up for Obama's Pastor Wright in my book in hill country. It is not that so many people love Obama, it is that Senator Clinton is such an establishment whore. Obama does offer hope. You can't trust a whore. I know, because I know some of the sisters. A whore will say anything to get something, like be elected.

Obama's mother's original Social Security Number Application

www.webofdeception.com