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Howie Hawkins on Social Security
Green Party Challenger for President
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Supports doubling Social Security benefits
Q: Partly privatize Social Security or raise retirement age to stabilize program?Howie Hawkins: No. Supports doubling Social Security benefits, financed "through more progressive income and wealth taxes instead of relying on regressive payroll taxes."
Jo Jorgensen: Yes. Supports individual retirement accounts, and a solution like the Cato Institute's "6.2% solution," which would allow any American to "opt out" of the current system.
Source: CampusElect on 2020 Third Party presidential candidates
, Aug 30, 2020
Apply FICA tax to all levels of income including investments
Apply the Federal Insurance Contributions Act (Social Security and Medicare) taxes to investment income and to all levels of income, not merely the first $106,800 earned. Oppose the privatization of Social Security.
Enact a wealth tax of 0.5% per year on an individual's assets over $5 million.
Source: Green Party Platform adopted by 2020 presidential hopeful
, Jul 12, 2020
The most regressive tax of all is the FICA payroll tax
The most regressive tax of all is the FICA payroll tax at 15.3 percent for Social Security and Medicare. 15.3 percent includes the employer match. But employers include the tax in their labor budgets and it limits what they can pay their workers.
The 12.4 percent Social Security share of FICA is outright regressive because it is capped for high-income earners at $128,400 in 2018.
Source: Truthout, "Popular Resistance" on 2020 presidential hopefuls
, Apr 19, 2019
The most regressive tax of all is the FICA payroll tax
The most regressive tax of all is the FICA payroll tax at 15.3 percent for Social Security and Medicare. 15.3 percent includes the employer match. But employers include the tax in their labor budgets and it limits what they can pay their workers.
The 12.4 percent Social Security share of FICA is outright regressive because it is capped for high-income earners at $128,400 in 2018.
Source: Truthout.org on 2020 presidential hopefuls
, Apr 19, 2019
Universal Social Security via Basic Income Grants
Universal Social Security in the form of taxable Basic Income Grants, structured into the progressive income tax, to guarantee an adequate income sufficient to maintain a modest standard of living above the poverty line.
Raise the cap on the Social Security tax for high incomes.
Source: 2006 Congressional National Political Awareness
, Nov 1, 2006
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