Obama’s Blueprint for Change on Social Security and Medicare

Barack Obama: “We can extend the promise of Social Security without shifting the burden on seniors. I think that’s why the best way forward is to first look to adjust the cap on the payroll tax, so that people like me, because I am earning more than $102,000, pay a little bit more and people in need are protected.

And by the way, I think that we should exempt anyone making under $250,000 from this increase. So it will not burden the middle class. 97% of Americans will see absolutely no change in their taxes under my proposal. 97%. What it does allow us to do is to extend the life of Social Security without cutting benefits or raising the retirement age.

Even if we keep Social Security strong for future generations, it’s not enough to help seniors who are struggling with the cost of everything from gas to groceries, because we know that rising costs are hardest for folks on fixed incomes. That’s why I want to make retirement more secure by eliminating the income tax for retirees who are making less than $50,000 a year. This would completely eliminate income taxes for 7 million seniors.

If a company goes bankrupt workers should be a top priority and not just an afterthought. So as President, I’ll limit the circumstances when retirement benefits can be cut and increase the wages and benefits that workers can claim in bankruptcy court. We’ll require companies to disclose their pension fund investments. We’ll put an end to the outrage of executives getting bonuses while workers watch pensions disappear, and we’ll make sure that no American goes bankrupt just because they get sick.

75 million working Americans today don’t have the employer-based retirement plans that the previous generation counted on. And that’s why I’ve proposed an automatic workplace pension. There’s going to be no red tape or complicated forms. Employers will provide a direct deposit of a small percentage of each paycheck into your account. You can add to it or you can opt out of it at any time.

Medicare is not allowed to negotiate. That makes no sense, that’s why some people are getting hit with this doughnut hole where after a certain amount of medication they suddenly have to pay out of their pocket. That’s not fair to seniors, it’s made a lot of profits for drug companies. We’re going to change it when I am President of the United States.”

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May 21, 2009 | Filed Under Medicare, Save Social Security 

Comments

2 Responses to “Obama’s Blueprint for Change on Social Security and Medicare”

  1. Sharon on May 28th, 2009 4:37 pm

    So why did they cut the benefits of the disabled on social security?

  2. Beth lawson Kalt on May 31st, 2009 2:52 pm

    Dear Hon pr OBama
    i have been on ssd for 2 years
    what is thise Roll that mr obama
    is trying to do. Medcare is very
    good i need it very much. i do undersand
    that some people ho need ssd can not get
    it, my late Brother Hon amb Bart J Lawson
    was on ever health care with ever Pr
    and he had a HMo care pluss health plane
    that is why i think something should be done thank you Mrs Beth lawson Kalt

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