No Cuts to Social Security, No 'Chained CPI'

Vermonters rallied at Burlington City Hall this week to protest the adoption of a so-called “chained CPI” which would cut Social Security and veterans' benefits. President Barack Obama included the proposal in his annual budget to reduce the deficit by cutting earned benefits for seniors and veterans. Sen. Bernie Sanders, who founded the Defending Social Security Caucus, said the president's inclusion of a chained CPI in his budget was "a huge mistake." Instead, Sanders wants to implement what President Obama proposed when he was a presidential candidate in 2008: Lifting the cap on Social Security payroll taxes to make the wealthy contribute the same percentage of their income as other workers. “Today, someone making $10 million a year contributes the same amount of money as someone making $113,700. That is absurd,” Sanders said. Sen. Patrick Leahy, who also attended the rally, praised Sanders for having the “strongest, most consistent voice” in the fight to strengthen Social Security.

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