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

[Hafar1014]

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.

THis is why he lost the election. The solution is less not more government and people taking care of their own needs

 

[JackOfNoTrades]

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.

For the last time, we are not going Mars..like..in the next hundred years.
He can't even get his shit together to get someone to the f'ing Moon.

 

[pknopp]

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.

All done on more and more debt.

 

[martybegan]

For the last time, we are not going Mars..like..in the next hundred years.
He can't even get his shit together to get someone to the f'ing Moon.

He's working on it.

He's got a re-usable rocket with over 150 launches this year.

Starship's iterative failure development process is working.

 

[martybegan]

All done on more and more debt.

Accepting only total success is detrimental to progress.

 

[martybegan]

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.

Made up number is made up.

Stop lying.

 

[berg80]

No, it's time that the govt do without. They've been screwing the populace forever.

I believe that's the wrong way to look at how things have transpired. We elect the people who run the government and who appoint unelected officials. To the extent the populace has been screwed we have done it to ourselves.

A corrupt system has been established where campaign donations and lobbyists control what gets done in DC. If we want that to change we can change it.

We hold the power to control our destiny, not government officials. If they don't do what we want we can replace them with those who will. IOW, we are the problem.

 

[pknopp]

Accepting only total success is detrimental to progress.

So Musk's debt is all cool. Lol

 

[berg80]

King RINO speaks.

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

What a boomer twit.

Get in, Mittens!!

View attachment 1195410

What do you think about his idea to end the income cap on FICA taxes? It's time to put down your childish rhetoric and get serious.

 

[pknopp]

He's working on it.

He's got a re-usable rocket with over 150 launches this year.

Starship's iterative failure development process is working.

They are called airplanes.

 

[pknopp]

What do you think about his idea to end the income cap on FICA taxes? It's time to put down your childish rhetoric and get serious.

100% for it but no one is going to do it.

 

[hadit]

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.

You champion Mitt's cause now. How did you react when he came out with this years ago?

 

[berg80]

For the last time, we are not going Mars..like..in the next hundred years.
He can't even get his shit together to get someone to the f'ing Moon.

Should SS benefits be means tested as Romney suggests?

 

[berg80]

You champion Mitt's cause now. How did you react when he came out with this years ago?

Don't you think national discussions on pressing issues would benefit the country?

 

[marvin martian]

You champion Mitt's cause now. How did you react when he came out with this years ago?

The left called Romney Hitler when he was running for president.

 

[SweetTea]

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

That would be a HUGE tax increase for wealthier, not necessarily rich, Americans. Many small business owners would be decimated.

A self-employed person making 300k per year would pay about 16k more in taxes per year or $1300/mth. That is money they will never see, so it effectively raised their taxes 12.7%. That is absurd. For the same person working for a company, the employee would pay an extra 8k and the company would have to foot the bill the additional 8k.

This would kill the economy, by slowing wage growth, decreasing hiring and limit the number of small businesses. But hey, what do you care as long as you don’t have to pay, right? That seems to be the mantra of today’s youth and Democratic Party. Never mind the long term consequences.

 

[hadit]

Don't you think national discussions on pressing issues would benefit the country?

That's not an answer to what I asked. You obviously champion this now, what was your reaction when we could have done something about SS that wouldn't be so painful?

 

[martybegan]

So Musk's debt is all cool. Lol

What specifically are you talking about?

 

[DGS49]

This is such an obvious solution (eliminating the wage cap) that one wonders why it has not been done yet. It is like the reclassification of cannabis. Are rich political donors that petty and vindictive?

 

[martybegan]

This is such an obvious solution (eliminating the wage cap) that one wonders why it has not been done yet. It is like the reclassification of cannabis. Are rich political donors that petty and vindictive?

Then will you lift the benefit cap?