Finally, a Dem with a Plan
Rep. Robert Wexler (D-FL) is tired of Democrats just opposing Social Security reform without having an alternative, so he has proposed one on his own:
Wexler’s legislation, dubbed the Social Security Forever Act, would remove the current cap on payroll taxes that fund Social Security for those with incomes above $90,000 a year. The bill would impose a 6 percent tax on income above that level – 3 percent paid by the wage earner and 3 percent by the employer.The bill also would attempt to protect Social Security funds from being diverted for other reasons by reinstituting expired “pay-as-you-go” rules in the federal budget process that require that any future tax cuts or spending increases be paid for elsewhere.
As expected, rather than trying to give people more control over their money or more return on their investment, a Democrat is taxing the rich to subsidize the poor. Ah well, at least it’s better than simply, “No!”
However, the rest of the Party of No is not amused:
Democrats reacted frostily to Wexler’s bill.“U.S. Rep. Wexler represents a party of one,” said Jim Manley, spokesman for Senate Minority Leader Harry Reid, D-Nev.
“It’s still the belief of the Democratic caucus that the president has to take private accounts off the table before we can begin substantive negotiations,” Manley said.






