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

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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.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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