nope for change

d-bag honorable mention by hip is everythingPresident Obama Proposes a Bigger Hit to Seniors Than he does to the Rich
President Obama’s proposal would reduce benefits by 0.3 percent for each year after a worker retires. After ten years benefits would be cut by 3.0 percent, after twenty years 6.0 percent, and after 30 years 9.0 percent. Over a twenty year retirement, the average cut would be 3.0 percent.
This cut would be a bigger hit to the typical retiree’s income than President Obama’s tax increases at the end of 2012 were… A couple earning $500,000 a year would pay an additional 4.6 percentage points on income above $450,000. This would amount to $2,300 a year (4.6 percent of $50,000). That is less than 0.5 percent of their pre-tax income and around a 0.6 percent reduction in their after-tax income.
By comparison, Social Security is about 70 percent of the income of a typical retiree. Since Obama’s proposal would lead to a 3 percent cut in Social Security benefits, it would reduce the income of the typical retiree by more than 2.0 percent, more than three times the size of the hit from the tax increase to the wealthy.


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OBAMA

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