Click here for an article at Substack by Robert Reich -- former Secretary of Labor "(I was once a trustee of the Social Security Trust Fund, so I know about this issue.)" -- entitled "The biggest contrast in the upcoming election (other than democracy vs. "blood in the streets" fascism)."
Trump and the Republicans want another gigantic tax cut for corporations and the rich, but are afraid of the backlash if they explode the deficit, so they need to make up the balance by cuts to social spending, such as Social Security. Reich summarizes his article as follows:
So there you have it: Trump and his regressive mouthpieces want to cut Social Security so they can give another giant tax cut to the super-rich.
Biden wants to save Social Security by having the super-rich — who have become far richer over the past several decades — pay more Social Security taxes.
There's a lot in this article that makes it well worth reading. I found one anecdote particularly compelling: There is a ceiling, above which no Social Security income is taxed -- $168,000. Reich points out that Jeff Bezos reached that ceiling last year about 7 minutes into January 1st; he paid nothing into the Social Security benefit pool for ALL the money he made on the other 364 days, 23 hours, and 53 minutes of the year.
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