Warren: Trim corporate pay tax breaks to cover extra Social Security checks

[kpete]

Sen. Elizabeth Warren (D-Mass.) wants to give all Social Security recipients a $580 check — and pay for it by trimming tax perks for corporate salaries.

Arguing that corporate executives are enjoying massive paychecks and bloated retirement accounts, Warren unveiled a new bill Thursday that she argued would even the playing field somewhat.

Noting that CEO compensation for the nation’s 350 biggest companies rose 3.9 percent in 2014, Warren proposed giving Americans that rely on Social Security, veterans benefits, or equivalent programs a one-time $580 payment, which is equal to 3.9 percent of the benefits they would otherwise receive.

Warren’s bill comes a few weeks after the Obama administration announced there would be no cost-of-living increase to Social Security payments in 2016. The rationale behind halting the increase for the first time since 2011 is that low inflation has kept consumer prices relatively flat.





http://thehill.com/policy/finance/259154-warren-trim-corporate-pay-tax-breaks-to-cover-extra-social-security-checks

[mmonk]

1. I love politicians that put the people first.

Even more as they become fewer and fewer.