Be prepared for the Democrat’s plan to reform Social Security. It’s a doozy.
The Wall Street Journal has done some great reporting on an idea from Barack Obama and”¦here’s the question. Would you like to see social security change this way?
As reported by the Journal, workers earning up to $8,000 per year would get back almost everything they put into social security. Just get it back! They get a refund.
Workers earning over $8,000 would receive $500 each but that would phase out. Upper income earners would pay even more, and they say under the current law a low wage earner only gets an inflation adjusted return of about 4%.
The reform suggested by Obama is to boost that to as much as 6% above inflation and at the same time taxing some Americans more.
That’s not a social security reform. That’s more of the Nanny State the Democrats have been pushing all along.