Manchin Wants Deal on Debt, Social Security, Medicare and Medicaid

[demmiblue]

- Biden vowed to protect Social Security, Medicare from cuts
- Entitlement push comes as debt limit looms after midterms

West Virginia Senator Joe Manchin said Thursday that Congress needs to deal with the nation’s “crippling debt” by making changes to shore up Social Security, Medicare, Medicaid and other programs he said are “going bankrupt.”

Manchin said at a Fortune CEO conference he’d like to see bipartisan legislation over the next two years to deal with entitlement programs, which he said are facing “tremendous problems.” Some of the trust funds that help support the programs could run out of money in the next 12 years, which would trigger cuts to benefits.

https://www.bloomberg.com/news/articles/2022-11-03/manchin-wants-deal-on-debt-social-security-medicare-and-medicaid#xj4y7vzkg

* Paywall

Link to tweet

Link to tweet

[scarletlib]

1. Of course he does.

[dflprincess]

3. Social Security and Medicare do not contribute a dime to the debt

If Manchin wants to save money cut the payments to defense contractors and subsidies to fossil fuel companies.

[leftstreet]

6. +1

[LastLiberal in PalmSprings]

10. Don' try to confuse them with the facts.

[ColinC]

15. And I mean, can we ever reverse the Reagan tax cuts at any point?

I have a feeling that also might help. Like a lot.

[wryter2000]

20. Thank you!

Why does no one point this out? The payments come out of those deduction boxes on your paycheck, not out of your income tax payments. If we need more money in the trust fund, lift the limit on how much income counts toward those boxes.

Then, repeal some of the tax cuts, going back to Bush to get rid of the general fund deficits. Both problems solved. And Biden would sign these. And do it on budget reconciliation to get around the filibuster. Totally doable if we hold both houses.

[Dave says]

29. Going forward, that's not exactly true

The trust funds are wholly invested in special Treasury bonds paying 2%. Right now social security taxes in roughly equal benefits out. When bonds start maturing en masse, the principle has to be paid out of general funds (because the funds are not there, that means borrowing ‘on the books’, crowding out other priorities like, ahem, tax cuts for the 1%).

To date, the trust fund surplus is spent ‘off the books’, not showing up in yearly deficit numbers. This amounted to a piggy bank for the rich, allowing that much more to be spent on wars and tax cuts. However, the gig is up. Without change, paid benefit shortfalls will be highly visible. Thus the right-of-center to extreme right’s clamoring for change, some wishing to cancel the programs altogether, leaving it up to the states to make up the shortfall (and we all know how that will work out).

What we’re witnessing is an attempt at the largest class theft in history. Let’s not let them get away with it!

[Bettie]

40. Sounds good to me

but we all know he wants to gut things like public education and programs that help actual human people....oh and give extra cash to fossil fuel interests (including himself).

[Ray Bruns]

4. Good. Let's start by clawing back some of that 2 trillion dollar tax cuts

That was passed under the trump regime.

[Dave says]

30. Excellent!!

[MagickMuffin]

5. More Blue Senate seats pretty please

We need more Dems to fight the good fight!

Reaching across the aisle rarely works anymore with the obstructionist republican’s

[SheltieLover]

7. From your keyboard to karma's ear!

SS is not an "entitlement," other than that we ARE entitled to it.

We paid in with the understanding it would be there for us in our golden years.

Reinstitute the wealth tax. The country is being bled dry by qpuke policies.

[wryter2000]

18. It could still happen

We keep all our current seats and win OH and PA. That's not a prediction, but it is a real possibility.

[ColinC]

8. Is t it too close to the election to make a decision on something like this?

After all, that’s how he feels about any Supreme Court nomination at this point.

[budkin]

9. I'm sure all his voters that rely on SS and Medicare will be happy to hear that

Fuck this guy FOREVER.

[turbinetree]

11. Hey Manchin....according to the books Medicare and Social Security don't get a tax break.....

and they are tied to the COLA......last time I looked the CEO's of ExxonMobil / Amazon / Twitter/ PayPal/ Google / Nike for example they were making more than $145,000.01 dollar's in a year didn't have pay one more dime into Social Security after they reached that threshold......now that's a tax break....and placing a burden on Social Security and Medicare....

[The Unmitigated Gall]

12. Fuck you, Joe.

May the heavens rain misery on you and yours.

Beyond done with this fuck.

[ProudMNDemocrat]

13. SS solution...Eliminate the Earned Gross Income cap.

Earners grossing $500,000 and above annually should have income subjected to SS taxes as someone Grossing $50,000 annually. Same goes for Medicare deductions as well.

[zuul]

17. Yes!

[ProfessorGAC]

35. For Nearly 30 Years...

...I hit the SS cap. Now, I didn't make 7 figures, but I don't believe having to pay around 5% of the 12,000 extra bucks would make a dent in us, year over year.
If one makes 7 figures and had to pay another $44,000 that wouldn't dent such a large income either.
I get that since benefits are capped, so are payments. But, given the "insurance premium" nature of the system, capping receipts seemed an intellectually lazy punt.

[JCMach1]

38. Precisely

[kacekwl]

14. Here's a deal. Eliminate the cap on contributions

to fund SS. Then roll back trump tax welfare to millionaires and billionaires. Bingo Joe.

[ProudMNDemocrat]

28. Exactly!! Wealthier earners have Retirement accounts already in place.

For when the time comes. Most Middle Class earners do not.

To retire and live comfortably, one needs at least $250,000 to $500,000 in an investment portfolio, as well as pension(s) plus Social Security. Ours come out in the range I listed,, more than the lowest amount, but less than the higher amount.

[wryter2000]

16. I'd suggest Manchin

Round up his Republican friends and get to work on a bill that Biden could sign. That should keep Manchin busy with no hope of succeeding and keep him out of trouble until at least the next congress is seated.

[BlueIdaho]

19. THIS X 1,000

Or ManChin can just shut the fuck up.

[wryter2000]

22. I'm in favor of that, too

And to insure it, keep all our Senate seats and win OH and PA. Greater miracles have occurred.

[Poiuyt]

27. Exactly. Why are Democrats always the ones who need to compromise?

[czarjak]

21. Thee rich just can't or won't quit?

[questionseverything]

23. This is terrifying

[Dysfunctional]

24. What about having a Social Security tax on other types of income.

I don't know anything about economics so I don't know if it is feasible or what should be taxed.

[EndlessWire]

25. It's time to have everyone pay their fair share.

Unlike many people here on DU, I think that it's okay to make a lot of money. You can be an entrepreneur, a business person, etc. and rake it in. But, you have to pay your fair share of taxes, the same as a cart vender does! Or, anyone else! None of this, "I make a billion a year and pay zero taxes," like you've discovered some intelligent, merit-filled secret in business that you can share in a book for $49.99. None of that! A billionaire doesn't deserve more of a break than the poorest mother working three jobs to pay for food on her table.

Also, end this charade of CHURCHES not having to pay taxes. I am a believer, but Churches are businesses, man, and they also need to pay their fair share. Especially since most of them do not do the Lord's work, do not act in any Christian way, and amount to cults. They are equivalent to little countries supporting a dictator, who insists on receiving perks like the latest jet to get around.

Everyone needs to pitch in with paying their fair share of taxes. Billionaires are entitled to earn as much as they can, but they have to pay their share of taxes!

Manchin's timing isn't the wisest. At a time when millions of Americans need to vote to protect Social Security and Medicare, right before Midterms, when the Dem message to voters is quite clear on the subject, he pops up with this crap. He doesn't understand how utterly devastating cutting Social Security would be for the elderly. If he wants to shore up programs, let him work for such legislation that will provide the funding from the rich paying their fair share.

The elderly often parse their incomes in the tiniest amounts, and a loss of as little as ten bucks can make a difference to them. Cut off social security and you will find the elderly on the damned streets. Throwing seniors into poverty when they already live on the edge doesn't make sense.

And, I am sick and angry over this "bipartisan" bullshit. You can look forward to nothing but utter crap from Republicans, who have no such intentions, no platform and no plan whatsoever except to protect billionaire incomes.

Want to protect SS and Medicare? GOTV!! Vote all Republicans everywhere out of office. Then, we might have a chance to correct the injustice of no taxes paid by the rich.

[I_UndergroundPanther]

36. It also

Would ruin a lot of disabled people's lives even make them die. Nobody thinks that this could happen if SS is cut. So mention all the kinds of people who would suffer because of that republican shit. And there are not just disabled adults out there. There are disabled kids too. This SS cut would fuck over many many people,not just seniors who it would devastate too.

Manchin is a dino. He needs to go.

[Johonny]

26. The best way to deal with nations debt is to not elect Republicans

[Midnight Writer]

31. Thanks, Senator, for giving fuel to the "both-siders".

[Autumn]

32. Of course he does. Bless his little heart.

[sarcasmo]

33. Manchin thinks he still has power.

[I_UndergroundPanther]

34. Manchin

Dino.

[ArnoldLayne]

37. Social Security and Medicare are not Entitlement's

we paid into it for years it is called FICA on your paycheck stubs.

[Yo_Mama_Been_Loggin]

39. Oh FFS

Couldn't he wait till after the election?

[David__77]

41. Better to default. Seriously.

…