Obama Floats Social Security Tax Hike

Sen. Barack Obama, D-Ill., is considering a major tax hike on the rich to shore up the nation's Social Security system. "If we kept the payroll tax rate exactly the same but applied it to all earnings and not just the first $97,000," Obama wrote this week in an Iowa newspaper, "we could eliminate the entire Social Security shortfall." Obama's idea, which he described on the op-ed page of Friday's Quad City Times as being "one possible option" and not a formal plan, would raise more than $1...Full Story
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