Mitt Romney has written an editorial. It should prompt a national discussion. It won't.

[berg80]

Mitt Romney: Tax the Rich, Like Me​

In 2012, political ads suggested that some of my policy proposals, if enacted, would amount to pushing grandma off a cliff. Actually, my proposals were intended to prevent that very thing from happening.

Today, all of us, including our grandmas, truly are headed for a cliff: If, as projected, the Social Security Trust Fund runs out in the 2034 fiscal year, benefits will be cut by about 23 percent. The government will need trillions of dollars to make up the shortfall. When lenders refuse to loan the money unless they are paid much higher interest rates, economic calamity will almost certainly ensue. Alternatively, the government could print more money, inducing hyperinflation that devalues the national debt — along with your savings.

Typically, Democrats insist on higher taxes, and Republicans insist on lower spending. But given the magnitude of our national debt as well as the proximity of the cliff, both are necessary. DOGE took a slash-and-burn approach to budget cutting and failed spectacularly. Europe demonstrates that exorbitant taxes without spending restraint crushes economic vitality and thus speeds how fast the cliff arrives.

https://www.nytimes.com/2025/12/19/opinion/romney-tax-the-rich.html

The title applies to his belief the $176K income cap for social security taxes should be done away with.

I long opposed increasing the income level on which FICA employment taxes are applied (this year, the cap is $176,100). No longer; the consequences of the cliff have changed my mind.

The largest source of additional tax revenues is also probably the most compelling for fairness and social stability. Some call it closing tax code loopholes, but the term “loopholes” grossly understates their scale. “Caverns” or “caves” would be more fitting.

He goes on to say the "step up in basis" capital gains tax treatment for wealthy estates should be amended. Meaning, if you inherit an asset for which the owner would have faced a capital gains tax upon its disposal if the owner did so while still alive, you shouldn't be able to inherit the asset tax free.

The thread is not intended to start a debate on the details of Romney's recommendations. Rather, it is to highlight the impending shortfall in the SS trust requires the nation to have a serious debate over what to do about it. And soon.

So too we need to have a discussion about the debt, during which both higher taxes and lower spending are on the table. There are still more.

Many have said our elected representatives have failed us with the rise of partisanship leading to paralyzing gridlock. The result being critical issues are not being effectively addressed. I say we have failed ourselves by not electing serious and informed officials to represent us. A reflection of "we the people," who spend too much time entertaining ourselves and not enough learning about fact based solutions to problems that will bring this republic down if they are not resolved in an intelligent, thoughtful, forward looking way.

 

[pknopp]

Democrats (in power) always insist on higher taxes for the rich when running for office but do nothing about it while in office.

 

[LordBrownTrout]

This is the only thing dems have is to tax tax tax. They never have had a solution. Romney should give up some of his billions then so he can pay for worthless wars and social programs. No, it's time that the govt do without. They've been screwing the populace forever.

 

[JackOfNoTrades]

Mitt Romney: Tax the Rich, Like Me​

In 2012, political ads suggested that some of my policy proposals, if enacted, would amount to pushing grandma off a cliff. Actually, my proposals were intended to prevent that very thing from happening.

Today, all of us, including our grandmas, truly are headed for a cliff: If, as projected, the Social Security Trust Fund runs out in the 2034 fiscal year, benefits will be cut by about 23 percent. The government will need trillions of dollars to make up the shortfall. When lenders refuse to loan the money unless they are paid much higher interest rates, economic calamity will almost certainly ensue. Alternatively, the government could print more money, inducing hyperinflation that devalues the national debt — along with your savings.

Typically, Democrats insist on higher taxes, and Republicans insist on lower spending. But given the magnitude of our national debt as well as the proximity of the cliff, both are necessary. DOGE took a slash-and-burn approach to budget cutting and failed spectacularly. Europe demonstrates that exorbitant taxes without spending restraint crushes economic vitality and thus speeds how fast the cliff arrives.

https://www.nytimes.com/2025/12/19/opinion/romney-tax-the-rich.html

The title applies to his belief the $176K cap on social security taxes should be done away with.

I long opposed increasing the income level on which FICA employment taxes are applied (this year, the cap is $176,100). No longer; the consequences of the cliff have changed my mind.

The largest source of additional tax revenues is also probably the most compelling for fairness and social stability. Some call it closing tax code loopholes, but the term “loopholes” grossly understates their scale. “Caverns” or “caves” would be more fitting.

He goes on to say the "step up in basis" capital gains tax treatment for wealthy estates should be amended. Meaning, if you inherit an asset for which the owner would have faced a capital gains tax upon its disposal if the owner did so while still alive, you shouldn't be able to inherit the asset tax free.

The thread is not intended to start a debate on the details of Romney's recommendations. Rather, it is to highlight the impending shortfall in the SS trust requires the nation to have a serious debate over what to do about it. And soon.

So too we need to have a discussion about the debt, during which both higher taxes and lower spending are on the table. There are still more.

Many have said our elected representatives have failed us with the rise of partisanship leading to paralyzing gridlock. The result being critical issues are not being effectively addressed. I say we have failed ourselves by not electing serious and informed officials to represent us. A reflection of "we the people," who spend too much time entertaining ourselves and not enough learning about fact based solutions to problems that will bring this republic down if they are not resolved in an intelligent, thoughtful, forward looking way.

Do away with the income cap on SS and presto, you've solved 70% of your shortfall issues.

 

[martybegan]

Do away with the income cap on SS and presto, you've solved 70% of your shortfall issues.

And then destroy the entire concept of social security. The cap is there because there is a cap on benefits as well.

 

[pknopp]

This is the only thing dems have is to tax tax tax. They never have had a solution. Romney should give up some of his billions then so he can pay for worthless wars and social programs. No, it's time that the govt do without. They've been screwing the populace forever.

The debt continues to grow, grow, grow under Republicans........is that our solution?

 

[martybegan]

Mitt Romney: Tax the Rich, Like Me​

In 2012, political ads suggested that some of my policy proposals, if enacted, would amount to pushing grandma off a cliff. Actually, my proposals were intended to prevent that very thing from happening.

Today, all of us, including our grandmas, truly are headed for a cliff: If, as projected, the Social Security Trust Fund runs out in the 2034 fiscal year, benefits will be cut by about 23 percent. The government will need trillions of dollars to make up the shortfall. When lenders refuse to loan the money unless they are paid much higher interest rates, economic calamity will almost certainly ensue. Alternatively, the government could print more money, inducing hyperinflation that devalues the national debt — along with your savings.

Typically, Democrats insist on higher taxes, and Republicans insist on lower spending. But given the magnitude of our national debt as well as the proximity of the cliff, both are necessary. DOGE took a slash-and-burn approach to budget cutting and failed spectacularly. Europe demonstrates that exorbitant taxes without spending restraint crushes economic vitality and thus speeds how fast the cliff arrives.

https://www.nytimes.com/2025/12/19/opinion/romney-tax-the-rich.html

The title applies to his belief the $176K cap on social security taxes should be done away with.

I long opposed increasing the income level on which FICA employment taxes are applied (this year, the cap is $176,100). No longer; the consequences of the cliff have changed my mind.

The largest source of additional tax revenues is also probably the most compelling for fairness and social stability. Some call it closing tax code loopholes, but the term “loopholes” grossly understates their scale. “Caverns” or “caves” would be more fitting.

He goes on to say the "step up in basis" capital gains tax treatment for wealthy estates should be amended. Meaning, if you inherit an asset for which the owner would have faced a capital gains tax upon its disposal if the owner did so while still alive, you shouldn't be able to inherit the asset tax free.

The thread is not intended to start a debate on the details of Romney's recommendations. Rather, it is to highlight the impending shortfall in the SS trust requires the nation to have a serious debate over what to do about it. And soon.

So too we need to have a discussion about the debt, during which both higher taxes and lower spending are on the table. There are still more.

Many have said our elected representatives have failed us with the rise of partisanship leading to paralyzing gridlock. The result being critical issues are not being effectively addressed. I say we have failed ourselves by not electing serious and informed officials to represent us. A reflection of "we the people," who spend too much time entertaining ourselves and not enough learning about fact based solutions to problems that will bring this republic down if they are not resolved in an intelligent, thoughtful, forward looking way.

Of course zero discussion on reducing the size of government and corruption via government which is the cause of this mess in the first place.

 

[pknopp]

Of course zero discussion on reducing the size of government and corruption via government which is the cause of this mess in the first place.

Simple discussion isn't getting it is it?

 

[LordBrownTrout]

The debt continues to grow, grow, grow under Republicans........is that our solution?

No, they both need to go away and quit governing.

 

[JackOfNoTrades]

Of course zero discussion on reducing the size of government and corruption via government which is the cause of this mess in the first place.

LOL. I thought that was your hero Musk's goal? How'd that work out for you?
I've been hearing the same shit from conservatives for four decades now. Corruption, fraud, the size of government..yeah, yeah, yeah, yeah......(except when WE are governing)

You do know what the top five annual items that contribute to our deficit and contribute to the debt are?
(Hint..one of them is not SNAP. )

 

[martybegan]

No, they both need to go away and quit governing.

When it comes to the debt the Republicans are the Party of don't want an idea and the Democrats are the party of awful terrible kill it with fire ideas.

The problem is we live in a binary political system, and only constitutional changes would fix that.

 

[martybegan]

LOL. I thought that was your hero Musk's goal? How'd that work out for you?
I've been hearing the same shit from conservatives for four decades now. Corruption, fraud, the size of government..yeah, yeah, yeah, yeah......

You do know what the top five annual items that contribute to our deficit and contribute to the debt are?
(Hint..one of them is not SNAP. )

He made a crack in the wall, and maybe someone else will take up the mantle.

 

[Gabe Lackmann]

King RINO speaks.

Romney is the very essence of the fuckery that has killed America.

What a boomer twit.

Get in, Mittens!!

 

[JackOfNoTrades]

He made a crack in the wall, and maybe someone else will take up the mantle.

He failed to (as do most conservatives) grasp that government IS NOT and CANNOT be run and cut like a private business.
Elon was a hammer. To a hammer, everything looks like a nail. When you take a hammer to things, they get broken.

 

[pknopp]

He made a crack in the wall, and maybe someone else will take up the mantle.

He screwed up so badly that it's going to make any future attempts even harder.

 

[LordBrownTrout]

He failed to (as do most conservatives) grasp that government IS NOT and CANNOT be run and cut like a private business.
Elon was a hammer. To a hammer, everything looks like a nail. When you take a hammer to things, they get broken.

A hammer? What did he hammer? He ran away and didn't stop anything.

 

[martybegan]

He failed to (as do most conservatives) grasp that government IS NOT and CANNOT be run and cut like a private business.
Elon was a hammer. To a hammer, everything looks like a nail. When you take a hammer to things, they get broken.

He did far more than anyone else before him. I'm surprised he got as much done as he did.

His spat with Trump was out of frustration and more caused by the system itself than Trump.

He had no idea how bad it was, and he thought it was pretty bad.

 

[martybegan]

He screwed up so badly that it's going to make any future attempts even harder.

I disagree. The system is so entrenched I'm surprised he did as well as he did.

Now let him concentrate on getting us to Mars.

 

[JackOfNoTrades]

A hammer? What did he hammer? He ran away and didn't stop anything.

He took a sledge to USAID. That sledge has cost the lives of millions of people around the world.

The absolute height of incompetence. Again, to a hammer, everything looks like a nail.

 

[marvin martian]

Mitt Romney: Tax the Rich, Like Me​

In 2012, political ads suggested that some of my policy proposals, if enacted, would amount to pushing grandma off a cliff. Actually, my proposals were intended to prevent that very thing from happening.

Today, all of us, including our grandmas, truly are headed for a cliff: If, as projected, the Social Security Trust Fund runs out in the 2034 fiscal year, benefits will be cut by about 23 percent. The government will need trillions of dollars to make up the shortfall. When lenders refuse to loan the money unless they are paid much higher interest rates, economic calamity will almost certainly ensue. Alternatively, the government could print more money, inducing hyperinflation that devalues the national debt — along with your savings.

Typically, Democrats insist on higher taxes, and Republicans insist on lower spending. But given the magnitude of our national debt as well as the proximity of the cliff, both are necessary. DOGE took a slash-and-burn approach to budget cutting and failed spectacularly. Europe demonstrates that exorbitant taxes without spending restraint crushes economic vitality and thus speeds how fast the cliff arrives.

https://www.nytimes.com/2025/12/19/opinion/romney-tax-the-rich.html

The title applies to his belief the $176K income cap for social security taxes should be done away with.

I long opposed increasing the income level on which FICA employment taxes are applied (this year, the cap is $176,100). No longer; the consequences of the cliff have changed my mind.

The largest source of additional tax revenues is also probably the most compelling for fairness and social stability. Some call it closing tax code loopholes, but the term “loopholes” grossly understates their scale. “Caverns” or “caves” would be more fitting.

He goes on to say the "step up in basis" capital gains tax treatment for wealthy estates should be amended. Meaning, if you inherit an asset for which the owner would have faced a capital gains tax upon its disposal if the owner did so while still alive, you shouldn't be able to inherit the asset tax free.

The thread is not intended to start a debate on the details of Romney's recommendations. Rather, it is to highlight the impending shortfall in the SS trust requires the nation to have a serious debate over what to do about it. And soon.

So too we need to have a discussion about the debt, during which both higher taxes and lower spending are on the table. There are still more.

Many have said our elected representatives have failed us with the rise of partisanship leading to paralyzing gridlock. The result being critical issues are not being effectively addressed. I say we have failed ourselves by not electing serious and informed officials to represent us. A reflection of "we the people," who spend too much time entertaining ourselves and not enough learning about fact based solutions to problems that will bring this republic down if they are not resolved in an intelligent, thoughtful, forward looking way.

I still remember when you loons said Romney was Hitler.