Well America, you give Republicans power…are you happy?
Texas Representative and Chair of the Social Security Sub Committee of the House Ways and Means Committee, Sam Johnson, a key Republican in Congress, introduced legislation that is going to massively cut benefits, add means testing, and raise the retirement age from the current age of 67 to 69.
According to Johnson’s website, “Today, Ways and Means Social Security Subcommittee Chairman Sam Johnson (TX-03) introduced legislation that will permanently save Social Security, ensuring this vital program continues to work for today’s workers and beneficiaries and future generations.”
Yahoo News reports the bill would “substantially” cut benefits for the majority of American Workers. The Associate Director of Tax and Budget Policy a the Center for American Progress, Michael Linden, has crunched the numbers, and tweeted that those making +-$50,000 would see decreases in benefits between 11% and 35%.
A later tweet from Linden points out that America’s wealthy will benefit in a disproportional way. “Late addition to the thread (h/t
@BBKogan): You may not believe it but this proposal also includes a…wait for it…tax CUT for the rich.”
Yahoo continues, “Nearly every income bracket would see a reduction, save for the very bottom. People making around $12,280 in 2016 who have worked for 30 years would see an increase of around 20%. But young people making the same amount would be hit hard by the changes. If they had 14 years of work experience by 2016, they would see their benefits cut in half.”
All those Trump supporters who thought he was going to take care of them and “bring our jobs back” just got played. God help us…