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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BEFORE YOU CLICK AWAY!

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And the essential ingredient that makes all this possible? Readers like you.

It’s reader support that enables Mother Jones to devote the time and resources to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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