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Kaine Admits Clinton Wants To Raise The Payroll Tax

- October 4, 2016

When Asked How A Clinton Administration Would Keep Social Security Solvent, Kaine Said Clinton Would Raise The Payroll Tax Cap. CBS NEWS’ ELAINE QUIJANO: “Senator Kaine. On the issue of Social Security. In 18 years, when the Social Security trust funds run out of money, you’ll be 76. The Committee for a Responsible Federal Budget estimates your benefits could be cut by as much as $7500 per year. What would your administration do to prevent this cut?” KAINE: “First, we’re going to protect Social Security, which was one of the greatest programs that the American government has ever done. It happened at a time when you would work your whole life, your whole life, raising your kids, working, you know, little league coach or a Sunday school teacher, and then you would retire into poverty. And Social Security has enabled people to retire with dignity and overwhelmingly not be in poverty. We have to keep it solvent, and we will keep it solvent. And we’ll look for strategies like adjusting the payroll tax cap upward in order to do that.” (Sen. Tim Kaine, Vice Presidential Debate, Longwood University, Farmville, VA, 10/4/16)

During The 2016 Campaign, Clinton Has Hinted That She Would Raise The Payroll Tax, Even Though She Claimed Such A Proposal Would Be A Middle Class Tax Hike In 2008

Since Beginning Her Campaign Clinton Has “Openly Mused About Lifting The Cap On Income Subjected To Social Security Taxes.” “Hillary Clinton said on Tuesday that new revenue was needed to shore up Social Security and openly mused about lifting the cap on income subjected to Social Security taxes, a position championed by Senator Bernie Sanders of Vermont.(Patrick Healy, “Hillary Clinton Says Some Americans Might Have To Pay More Into Social Security,” The New York Times, 1/27/16)

On The Campaign Trail, Clinton Has Called For Lifting The Social Security Tax Cap And For Additional Sources Of Non-Traditional Income To Qualify For The Tax. QUESTIONER: “We would like to hear how you describe your plan for updating and building on Social Security.” CLINTON: “…Secondly, we do have to extend the life of the trust fund and that’s going to take some new funding. And I think there are a couple of potential ways of doing that. One is lifting the cap, one is applying the already existing payment requirement to more income because there’s a lot of passive income that is not included in that and it’s a, its again not fair that wealthy people get away with that while working people pay their share on their earned income, so we have to look at that.”(Hillary Clinton, Remarks At A Campaign Event, Decorah, IA, 1/26/16)

In 2008 Clinton Had “Flatly Rejected Such An Increase,” Disagreeing With A Plan Candidate Obama Had Put Forward To Raise The Taxable Limit.  “At a town hall here Tuesday, she said she'd be open to a Social Security tax increase proposed by Sen. Bernie Sanders (I-Vt.), her radical rival in the primary. During the 2008 campaign, Clinton had flatly rejected such an increase. Her comments this week could suggest that she has warmed to the idea, or that she is responding to a broader shift to the left among Democrats.” (Max Ehrenfreund and Anne Gearan, “Clinton Is Open To Raising Social Security Taxes On Six-Figure Earners,” The Washington Post, 8/12/15)

  • Clinton Attacked Obama For Proposing To Lift The Cap On The Payroll Tax, Saying It Would Raise Taxes On The Middle Class. CLINTON: “I'm certainly against one of Senator Obama's ideas, which is to lift the cap on the payroll tax, because that would impose additional taxes on people who are educators here in the Philadelphia area, or in the suburbs, police officers, firefighters and the like. So I think we have to be very careful about how we navigate this. So the $250,000 mark is where I'm sure we're going. But beyond that, we are going to have to look and see where we are.” (Sen. Hillary Clinton, Remarks At A Democrat Presidential Debate, Philadelphia, PA, 4/16/08)

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