Thursday, August 25, 2022

Pelosi's tax breaks for the rich

 

Justice Democrats


Nancy Pelosi is BLOCKING a bill to expand Social Security benefits for seniors. All while she crafts a bill to give the rich a tax break.

Text from the American Prospect reads: Nancy Pelosi’s office is blocking Social Security expansion, while Congress prepares to pass a windfall for rich retirees, insurance companies, and large asset managers like Vanguard and Fidelity.Source: American Prospect

This is what corporate Democrats call "incremental progress," but we’re calling it unacceptable. There’s no excuse for holding up a bill to give folks relying on social security a little more support each month. And we know the rich don’t need more tax breaks (the GOP have given them plenty).

Justice Democrats will always fight to strengthen the social safety net. We will always fight to elect progressives who will govern for the 99%, not corporations and the rich. Can you chip in $10 to help us elect more progressives who will stand up to Democratic leadership? We must re-elect and expand the Squad in November.


We shouldn’t be seeing these headlines with Democrats in control of Congress.

Headline text from the American Prospect reads: House Leadership Delays Social Security Expansion While Crafting Tax Breaks for Rich RetireesSource: American Prospect

Social Security 2100 is a bill co-sponsored by more than 200 Democrats in the House. It would be the first expansion of Social Security benefits in 50 years — funded by a payroll tax on wages above $400,000. Right now, there’s actually a cap on how much income is taxed for Social Security — allowing folks making more money to avoid paying their fair share into the critical benefits program. This is a no-brainer piece of legislation for Democrats — but Pelosi is blocking it.

Instead, House leadership is poised to pass a bill that creates new tax breaks for those making the most income, which is in turn a gift to financial firms managing retirement portfolios.

At key moments, Alexandria, Cori, Jamaal, Rashida, Ilhan, and Ayanna have stood up against corporate Democrats, voted against House leadership, and upheld their promise to legislate for the people. We need MORE Justice Democrats in Congress, and every day we’re working towards expanding our JD bloc on Capitol Hill.

So, can you help us elect Justice Democrats, not just the same corporate Democrats, with a donation today?


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