You know something you almost never hear from a. The White House, b. The Obama Campaign, c. Obama Cabinet officials, d. Obama appointees, or e., President Obama himself?
This:
I've been very specific in saying we should not privatize. We should protect benefits. I don't think the best way to approach this is to raise the retirement age.
But what we can do is adjust the cap on the payroll tax. Right now, anybody who is making $97,000 or less, you are paying payroll tax on 100% of your income. Warren Buffet who made $46 million last year pays on a fraction of one percent of his income. And if we can make that small adjustment, we can close that gap and make sure Social Security is there. (applause)
Nov 15, 2007
Whatever happened to that guy?