Obama Pushes For Higher Soc. Sec. Tax
Democratic Presidential candidate Barack Obama said that he would increase the amount of income taxed for Social Security in an appearance on Meet the Press sunday. According to Yahoo news, the Illinois senator has "objected to benefit cuts or a higher retirement age" while supporting a "doughnut hole" to shield middle-income earners from paying more.
"I think the best way to approach this is to adjust the cap on the payroll tax so that people like myself are paying a little bit more and people who are in need are protected," he said.
According to USA today, "Clinton has said growing the economy will pump more money into Social Security's coffers. She also has said she would create a bipartisan commission to recommend solutions." Obama has decried this solution as avoidant.
"It's not sufficient for us to just finesse the issue because we're worried that, well, we might be attacked for the various options we present," he said.