This page was last updated on June 11, 2013.
Central Labor Councils Pass “Resolution for Action in Defense of Social Security and Medicare”; Unions For Single Payer Health Care; June 4, 2013.
You can learn more about BCR’s leftster management here.
More deception on the BCR website. You can find details behind what I present below in my paper “Socialist Security and Medicare.” You can learn more about “Medicare For All” (H.R. 676) in my paper “Healthcare.” I last updated “Healthcare” in early 2012 so it’s possible sponsors have monkeyed with specific provisions of H.R. 676 since then. Regardless, provision changes can’t fix H.R. 676. H.R. 676 can be fixed only by not implementing it.
The subject piece says, “Currently, those who earn up to $113,700 pay 6.2% in Social Security taxes on every dollar.” Not true. The “employer portion” of SS (and Medicare) taxes is a myth. Workers pay 12.4% on wages up to the maximum taxed earnings amount (MTEA). The MTEA for 2013 is $113,700 and increases every year by law. It’s worth noting Medicare has no MTEA and yet is still in worse shape than SS.
The piece continues, “Currently the income of the wealthy in dividends, interest, capital gains, etc. is not taxed at all for Social Security.” NO ONE pays SS taxes on “dividends, interest, capital gains, etc,” not just “the wealthy.” The reason is simple; SS is supposed to help replace wage income lost when a person retires. We don’t lose income from “dividends, interest, capital gains, etc.” when we retire so there’s no lost income to replace.
Other recent examples of BCR deception include false information about the I-5 bridge collapse of May 2013 (BCR rebuttal on Facebook) and gun shows in Pennsylvania.
In Peace, Friendship, Community, Cooperation, and Solidarity. <g>
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