Obama vs. Clinton on Social Security: An Actual Policy Difference!


In a campaign season in which the Democratic candidates agree with each other on 95 percent of their policy proposals, Social Security stands out as an issue with a small but stark difference.

Here’s the nut of the issue. Currently, Americans pays a Social Security tax on the first $97,500 of their income. If you make $60,000 a year, you pay tax on 100 percent of what you make. If you make $1 million a year, you pay tax on 9.75 percent of what you make. Barack Obama proposes lifting that $97,500 cap (which rises to $102,000 next year), while Hillary Clinton suggests it would raise taxes by too much.

Over on the Time blog Swampland, I found this incredibly helpful chart. I’ve stolen it because it breaks down the numbers exceptionally well. As a thank you, show Swampland some love.

socialsec-chart.jpg

Clinton is right about the rise in taxes: in some instances it is substantial. But only the rich will feel it.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

Share your feedback: We’re planning to launch a new version of the comments section. Help us test it.