The Latest
The Epic List of GOP Social Security Cutters
02.13.23 | 4:21 pm

It’s not just that Republicans have been pushing for cutting or phasing out Social Security and Medicare for decades. They are now demanding that President Biden agree not to say what their policy is. The demand amounts to this: despite the fact that Republicans have been demanding cuts and a phase out for decades and despite the fact they will continue to do so after the current burst of media attention abates, Biden must stop telling voters about this because Republicans have momentarily agreed to deny what their policy is. Indeed, what’s especially weird is how many Republicans can’t help restating their demand for cuts even while denying their demands for cuts.

There are so many examples of this it’s hard to know where to start. But since you have to start somewhere I’ve begun a list of quotes supporting cuts from Republican members who now claim they’ve never supporting cutting Social Security.

Have other examples? Send me them.

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DeSantis’ AP Stunt Was Probably a Set Up
02.13.23 | 1:48 pm

The College Board has now released a letter going after Gov. Ron DeSantis for what they call a “PR stunt” in attacking and at least tentatively refusing to participate in the College Board’s new African-American Studies AP course. The following isn’t a defense of the College Board, which deserves a lot more scrutiny than it gets on topics entirely separate from this course. It’s also not a defense of the curriculum itself. But a mix of speculation and hints lead me to think that this was likely a set up on DeSantis’s part.

Specifically, I suspect that DeSantis knew that these changes were coming and jumped in front of the announcement, knowing that he could then take credit for getting the Board to de-wokenize its offering in the face of DeSantis’s iron will.

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The Various Ways to Eliminate and Gut Social Security Prime Badge
02.13.23 | 10:31 am

Since we’re talking about whether Social Security survives for future generations, we should start with understanding the various ways the program’s foes propose to limit or get rid of it. Since Social Security is one of America’s most popular government programs, virtually no one says they want to get rid of Social Security. (Except Sen. Mike Lee (R-UT).) Plans to cut it or phase it out entirely are almost all framed as ways to “improve it” or “save” it.

So for instance on CNN this weekend Sen. Mike Rounds (R-SD) compared Social Security to defense spending. “We’re never going to not fund defense. But at the same time we — every single year, we look at how we make it better. And I think it’s about time we start talking about Social Security and making it better.”

So what are the options?

Making Sense Of The Trump Classified Docs Case
INSIDE: Jack Smith ... Josh Hawley ... Matt Schlapp
02.13.23 | 8:43 am
DeBamboozling the Social Security Scare Talk
02.12.23 | 11:26 am

I mentioned a few days ago that political reporters remain way behind when it comes to seeing through the flimflam of Republicans’ schemes to cut or dismantle Social Security. I was reminded in a TPM Reader email a few mornings ago how often the press accounts of the financing of the program itself remain trapped in GOP talking points. In X number of years, we hear again and again, Social Security will become “insolvent.”

But this isn’t true. At best, it’s a totally misleading way to describe how the federal government pays for things.

Social Security and Medicare are funded (almost entirely) by a payroll tax of approximately 15% on wage and salary income up to a statutory cap, which currently stands at $160,200. That tax is split between the employer and the employee. It funds the two programs. A couple generations ago, Congress increased the tax to build up a surplus to pay for the benefits of the baby boom generation. That’s the “trust fund.” Social Security “lent” that extra money to the rest of the federal government, i.e., it purchased government bonds. Eventually the Trust Fund will run out of bonds to cash in. The current estimate is that that will happen in the mid-2030s. This is when Social Security supposedly becomes “insolvent.”

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How The Wealthy Save Billions In Taxes By Skirting A Century-Old Law
Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Steve Ballmer see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments.
02.12.23 | 9:54 am